Author: Chris / Source: Lifehack
It’s been months since you’ve tried improving your credit score but had little success. And since you’re planning to make large purchases soon, you start feeling hopeless.
The problem is you don’t know where to start. With too many resources available, you become paralyzed with fear.
But you know you can’t sit still forever. So what’s your next step?To learn from others who’ve already experienced success.
Take my case, for example, my current credit score is 750+, but this wasn’t always the case. At one point I had no credit and lost over 100 points. Through trial and error, plus learning from others I’ve learned which tactics work.
You don’t need complicated strategies, you only need a few that work. The tactics provided in this list are the same ones I’ve used to increase my credit score. While your credit score won’t improve overnight, it’ll improve quicker than most.
Here are 10 tactics you can use to finally improve your credit score:
1. Revise for any errors
Before you attempt to improve your credit score, check where you stand. Pull a free credit credit report and ensure that all your information is accurate. For example, check for misspellings, wrong addresses and accounts not belonging to you.
If there’s any bad information, contact the credit reporting company. To avoid any prolonged issues, aim to check your credit at least once per year. You’re entitled by Federal law to 1 free credit report from all 3 credit reporting agencies.
Download Credit Karma, or Credit Sesame to track your credit score. This will help you stay motivated as you’re changing bad habits to improve your credit score.
2. Stop depending on credit
A major reason for having bad credit is due to carrying several credit balances. Instead, focus on paying down all your credit cards and only use one. Save money by consolidating all your credit card balances into a 0% interest credit card.
Once you’ve consolidated all or most of your credit card debt, make more than the minimum payment. Why? Because it can take years for you to pay off those balances making the smallest payment.
It can feel overwhelming keeping track of many credit cards and other expenses. Fortunately, a simple solution is to use apps like Mint to better track your cashflow.
3. Say no to new credit cards
Ironically, the better your credit score is, the more credit offers you’ll receive. But this doesn’t mean that you should open dozens of new credit cards. Limit yourself to only have 1 to 4 credit cards.
If you find that you already have more than 4, focus on eliminating ones you don’t use or have an annual fee. Many companies and stores will try to convince you to open new credit cards with a one-time cash bonus. Don’t fall for it.
4. Leave your bills on autopilot
Because you’re human, you’re bound to be late on payments at some point. A great way to avoid being late is by setting up automatic payments for your bills. Nowadays, most large banks have a “bill pay” feature that allows you to set up recurring payments.
Review your credit billing history and write down bill due dates on a separate sheet of paper. Be sure to have a good understanding of your cash flow to know how much money you’ll have left over each month. Use the remaining amount to make extra credit card payments.
Stay motivated by setting a deadline for when you’d like to be credit card debt…
The post How to Improve Credit Score Quickly with These 10 Tactics that Work appeared first on FeedBox.