3 Incredible Tips For Fixing Bad Credit
(UnitedReader.com) – Credit is almost a necessity in the modern world, affecting buying power and upward mobility. A person’s credit score can suffer serious impacts from negative marks, which in turn can produce a poor score. Thankfully, there are a few ways you can fix your credit and get your score back on track.
Obtain a Copy of Your Report
The first step anyone looking to repair their credit needs to take is to get a copy of their credit report. After all, it’s difficult to know what to fix on your report if you don’t know what’s hurting your score. The three major credit bureaus, Transunion, Experian and Equifax, are all obligated to provide one free report per fiscal year.
All you need to do is ask for your report. Note that your score is different among the three bureaus, so obtaining a copy of each report is ideal and the best way to help boost your credit.
Dispute
Mistakes happen; they’re a natural part of life. Lenders and other credit providers are just as susceptible to making these mistakes as anyone else. While these problems can topple your score’s health, you can also easily get them removed.
You can and should dispute any incorrect info on your report such as reported late payments that were actually made on time. There are resources available, such as Credit Karma, where you can dispute incorrect information, or you can even file disputes with the individual bureaus.
Make On-Time Payments
Everyone knows that you should never be late making payments, but sometimes life happens, and you can’t help it. Unfortunately, even a single late or missed payment can significantly decrease your credit score.
Miss too many payments, and your creditor will charge-off the account and possibly send it to collections, further hurting your score. Even with a rocky credit history, when you get another chance to utilize credit, be sure to make the payments on time, and over time your score will increase as you build a positive history.
Food for Thought
These aren’t the only ways you can repair your credit, so be sure to look into other methods to help your score. It’s also good to mention that some factors impact your score more than others; look to repair ones that hurt your score more first, then move on to less significant debts.
Keep in mind that while your credit score can take a serious hit essentially overnight, it takes time to get your score back on track. So, when working on repairing your credit, be patient and avoid mistakes that hurt your score and stunt your credit’s growth.
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