Review your credit report annually and make sure to correct any mistakes. Don’t be afraid to dispute any inaccurate or incomplete information!
Consider paying all or part of your bill before the closing date so that the credit issuer reports a lower or zero balance. Call your credit issuers to find out the specific closing date.
More ways to improve your credit score, is your score keeping you from getting approved for financing on a home or new car? The good news is you can begin to improve your credit immediately. While repairing your credit does take some time, it is possible to quickly improve by these following tips:
Pay off debt instead of moving it to another account or new account.
Eliminate debt, if possible, or at least pay it down as low as you can.
Don’t open new accounts to try to build credit, it could work against you.
Always pay bills on time or it may hurt your credit score.
Ways to curb spending:
Look for ways to make small cuts; reduce non-essential expenses, which may include your morning coffee run or daily lunches.
Cancel underutilized subscriptions or membership services (e.g. streaming apps, TV channels, magazine subscriptions and gym memberships).
Track your expenses and spending in a notebook or through an app. When you are aware of your expenses, you are less likely to spend frivolously.
What goes into your credit score? Great credit has many advantages, including access to lower interest rates. Here is how it is calculated:
30% is the amount owed
15% credit history
10% inquiries and new credit lines
10% type of credit in use
35% payment history
Thinking about buying or selling a home soon? Your credit should be a top priority. Give me a call to discuss why!