How To Fix Bad Credit Within 6 Steps On Your Own

Paying back your credit card
Paying back your credit card

There’s an old saying, “Credit is everything.” Common sense should tell you this is a true statement when you consider the fact that it’s extremely hard for you to borrow money for an automobile or home without good credit. Unfortunately, millions of consumers are walking around with a low credit score. Would you like to fix your credit score? It’s important to mention that you can improve your beacon score within several weeks or months.

We will now go over six steps that can help you fix your credit without the help of a credit repair professional.

1. Determine where you stand

Your first step begins with you determining where you stand. You must get copies of your credit report from the three major credit bureaus  (Experian, Equifax, and TransUnion). Your credit report will have your beacon score. Credit scores start at 309 and go up to 850. A good score starts at 700. Many credit experts consider the 700 credit score as “the golden number”.

2. Dispute errors

Do you see any errors on your credit report? If you do, it’s important for you to dispute them. Errors on your credit report can have a big negative impact on your credit score.

Get in touch with the credit bureau(s). You can do this by writing them a simple letter. Make sure that you send the letter via certified mail with return receipt. Let them know that you are disputing the error on your credit report. By law, they must remove the error(s) from your report.

3. Manage your money wisely

It’s critical that you manage your money wisely. You cannot afford to fall into a deep financial hole. Spending wisely will help you get a tight grip on your finances.

4. Pay your bills on time

We cannot stress how important it is for you to pay your bills on time. Creditors will not hesitate to post late payments on your credit file. When this happens, your credit score will drop.

Open communication is the key to dealing with our creditors if you cannot pay them on time. They will more than likely put you on a payment plan. Ignoring them will not make matters better. You should get in touch with a debt consolidation loan company if you need money to pay your bills. These experts can assist. You should contact them today.

5. Get an unsecured credit card

Getting an unsecured credit card can put you on the right track to have good credit. With an unsecured credit card, you send a certain amount of money to the card issuer. Once you receive your card, you will borrow against your money. The card issuer’s capital is not at risk. Using an unsecured credit card is an easy way to give your beacon score a huge boost.

6. Piggybacking

Piggybacking is an old credit repair technique. This is where someone allows you to become an authorized user on their credit card. Their credit activity will increase your score.

Lenders are notorious for shying away from consumers with bad credit. Fortunately, you don’t have to live with poor credit for the rest of your life. The six steps above can raise your credit score within a reasonable amount of time.

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