Remember your biggest asset financially is your credit score and if it is on the higher side, you would have low rates for borrowing. But God help you if the score isn’t too good, hundreds of more dollars from your account would be spent trying to pay the high lending rates. Hence what you need to do is to Improve Your Credit Score, get it repaired whatever, and raise the rating on your credit report ASAP!!
What is your credit scores based on?
Repayment historyThe debt you owe as of nowThe credit checks done recentlyHow much you make etcHere is what you do
If you have revolving credit car payments to finish off, get them done off ASAP. Pay them by the deadline and pay a little more than you can. Pay the debt before the end of the month, and if you work with two, pay one of in full and minimize the next, and when you gather enough funds for the second one while paying its minimum all these months, pay that off in full as well.Your salary would be the income you make on a monthly basis. The credit reporters would crunch to match them with your earnings. If there is a debt you have which is more than what you make, the credit score would be low. If you freelance and can afford to do another job to increase the earnings, do so and make the credit score go high.There are official companies online which would allow you to have access to your credit score. And they would also tell you the level of it as well. You can then decide what to do to raise the scores.STOP applying for every credit card and car loan or home loan, it just shows you as someone who is in need of finances and desperate that too. Every time you make a new swipe from that card or buy a home or car, the credit id checked and the scores lowered until all is PAID IN FULL.Get a saving account opened ASAP, and make a monthly budget for the same. This ensures you have the cash in excess you need when rainy days hit.So now we hope you know how to improve your credit scores, all the best!!
0 comments:
Post a Comment