8 Ways to Raise Your Score
Your credit is very important to you and is one segment of creating your financial stability. These 8 ways to raise your score that we are going to provide you with will help to give you some confidence in knowing that you can be proactive when it comes to your credit rating. They will also show you that you have the opportunity to do something about it.
8 ways to raise your score step one
When individuals are running into financial difficulties they tend to want to ignore their credit score because they find it just too overwhelming. The first step is getting a copy of your credit report. This is going to be your starting point.
8 ways to raise your score step two
You need to give yourself some time to sit down and completely review your credit report. Don’t just assume that it’s accurate. Errors can be made and this is what you want to look for first.
8 ways to raise your score step three
Carefully check out what the credit limits are showing for each of your credit cards that are listed on this report. It may be that your credit card institution has raised your credit limit but this is not being shown on this report. This may mean that it looks like your cards are maxed out.
8 ways to raise your score step four
Go out and get yourself one or two credit cards if you do not own any at present. This is going to help you establish your credit rating. Just be sure that you do not use the cards too extensively and make sure that you pay them on time. Being late with your payments can be just as serious as not making them.
8 ways to raise your score step five
Do not over use your cards. Many individuals tend to use their cards more for convenience than necessity. Try to form the habit not to use credit for everything and to keep your credit card expenditures down around the 30% mark. This shows the credit agency your spending habits.
8 ways to raise your score step six
Try and negotiate with your creditors. Perhaps there was a reason that you were not able to pay appropriately on your credit card in the recent past and this is now showing on your credit rating. What you may be able to do is contact this particular creditor and make a arrangement with them to pay the balance owing. On the condition that they will remove the negative rating from your credit card and will report the payment as paid as agreed. Do make sure you get this in writing however, before you make any payment as some creditors may agree to doing this and then not follow through.
8 ways to raise your score step seven
Call your credit card institutions and ask them to raise your credit limit. Once doing this make sure that you don’t fall into the tendency to max your cards out.
8 ways to raise your score step eight
The eighth and final step for your eight ways to raise your score is to make sure that you don’t cancel out your credit cards once you have cleared your balance. What you may want to do is use this card for a monthly bill that reoccurs, and ensuring that you pay the credit card balance by due date. This keeps your credit in good standing.
These are just a few of the most important steps that you can take to increase your credit standing and raise your credit score. Many people think that they have to clear all of their bills that are listed on their credit score in order to increase their creditability. This is not the case as you can see by these 8 steps that we provided you with. There are several different factors that are taken into consideration when it comes to evaluating your credit score.
By using your credit report as your guideline for getting yourself back on track financially and boosting your credit rating, it is going to put you in a much better credibility position when in need of credit in the future.