If you are looking to improve your credit score quickly, now is the time to get started. Give us a call. We can help. In the meantime, here are some great strategies you can utilize right away to give your score a little boost.
1) Create some Balance: Paying down or paying off revolving debt such as credit cards, can cause a quick jump in your credit score. This trick is to get and keep your balances below 30% of your credit limit on each card.
Do not close your accounts
2) Know your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This can cost you up to 80 points.
3) Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Some creditors don't report your information to all three credit bureaus. Correcting this oversight could provide a significant boost to your score.
4) Protect Your Interests: If you have a HELOC, make sure it is listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This could increase your score by 50-100 points.
5) Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge.
If you would like more information give us a call right away. We'll be glad to help you in any way we can or, if it becomes necessary, refer you to credit professionals you can trust.
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