It’s important to understand where you stand with your credit score. You won’t be able to correct your credit until you can identify what your score is.
#1 Reach out to one of the major credit bureaus to get a copy of your report! These agencies are Experian, TransUnion and Equifax that are the major reporting agencies. Understand that you may not like the results and that many people just like you dread actually getting the number but this will lay the foundation for how you can then take steps to improve your score. Your results should fall within 300 on the low side to as high as 850 and any score over 700 should result in gaining the trust of creditors which will bring the best interest rates.
#2 Fight your credit results by filing a dispute. In the event that you see bad information on your report you do have the option to take some corrective action. This can be done at your own pace and if you see multiple issues than why don’t you start working on some of the easier items and take small steps towards improving your rating. Patience in credit collection is ‘key’ and be dedicated to keep up the fight. Simply writing to the bureaus above and notifying them of any error in the report along with providing some supportive documentation. Make sure to provide a copy of the report and circle or highlight the areas of concern.
#3 Recognize areas to improve your own habits. Bad credit habits are your own but often are out of your own control. However, it’s up to you to improve your score and that may require extra attention to:
- Being more timely when paying your bills on schedule.
- Reduce your credit card balances.
- Limit your credit card use and stop using the higher interest credit cards.
- Avoid any new enticing offers to transfer or apply for any new credit lines until you get a better handle on your expenses.
Honestly, it really comes down to your ability to recognize your own financial situation. By sitting down and reviewing your credit report is the first step towards making corrections to better your financial picture. This can be a process so understand that finding options can take some time and involve research prior to finding the best way to repair your score.
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