If you are having a rough time dealing with a bad credit score and want to improve it? Then you came at the right place as we have all the information you need on how to fix your credit fast all on your own without even needing to go to a consultant to hire an agency to do that for you.
In order to learn on how to fix your credit all on your own let’s first look at the importance on why is it necessary to improve our credit score?
Importance of Fixing Your Credit
Financial history reflects how well you have managed your credit transactions. Usually Banks first look at your credit score, then think of providing you with any credit. If you have a bad credit, you will not gain bank’s trust and thus, will have a hard time in getting yourself loan. Improving a credit score will help you attain your credit worthiness and will help you get yourself credit. It will enable an increase in your credit limitations, lower your overall interest rate, lessen up your financial burden, reduce your need of paying financial deposits and improve your financial history that will be with you for the rest of your life.
Tips on Fixing your Credit
Below are a few tips to fix your credit by yourself;
Get a Look at your Credit Reports
It is very important for you to know your credit report as your financial history must be known to you. There are a few credit bureaus you can look up to such as “TransUnion, Equifax, and Experian” that provide a credit report once in a year for free. Otherwise, you can always look for “Credit Karma” to provide you with a credit report copy.
Increase your Credit Limit
An increase in your credit limit, will provide you better scores, causing your credit score point to improve. For example, you must pay $2000 on a credit card with a $4000 limit. Simply ask them nicely, to increase you credit limit and if it gets form $4000, to $6500, you will be able to improve your credit score. Companies love to improve credit limits as they like you to carry a high balance.
Open another Credit Card Account
Another great way is to open a credit card account, with out any balance on the newly provided credit card to you on your account. It will not only improve your credit score but will also raise your credit limit within a month, causing you better credit point.
Dispute Late-Payment Entries
It is uncommon for people not to make mistakes as they happen and you can’t do anything about it however, there are chances on fixing your mistake. If you have any left late payment on either closed accounts or current accounts, then its better to dispute them as quick as possible.