Credit score affect every aspect of our financial lives including qualification for loans and mortgages, the interest rate we pay, employment opportunities and all the insurance premiums. Repairing your credit is one of the most important financial decisions you can make.
Major cause or bad credit could be any one or combination of few of these.
Late payments, collections, Identity theft / frauds, Inquiries, liens, foreclosures, repossessions and many more like that. It takes lots of hard work, research and of course, some expense. However, one can take few of these simple steps to improve their credit.
· Always pay more than minimum due amount on all your payments, whether it is credit card accounts or mortgage payment.
· Keep all your credit cards below 30% of their limit.
· Call the collection agencies (if any) and make a deal, set up a payment plan that you can afford. Most collection agencies will be willing to talk and settle the account.
· Check your credit report once a year. You can check it free at https://www.annualcreditreport.com
once a year. If you see some thing that should not be on your credit report. Do call all three bureaus to report the mistake.
· Do not apply for too many credit cards. Every time credit card company run your credit it drops your credit score.
I hope these simple steps will help you improve your credit to some extent.
Wish you all the best.
Your Realtor Buddy
Exit Valero Realty
510 872 8942
P.S: - If you know anybody who is thinking about selling or buying a property, Please do not keep me a secret. I am never too busy for your referrals.
Subscribe to CommentsComment