No doubt, you can’t survive in this competitive world with a poor credit score. But it is not the dead end. To fetch you out of such a gloomy situation, we are here with certain ways that you can follow for improving your credit score and chances to flourish in today’s world.
- Begin with getting a copy of your credit report from each of the three major credit bureaus and find out which account requires the immediate attention. Note that you can get the free credit report from AnnualCreditReport.com.
- If you find any error in your credit report, get it removed by sending a request to credit bureau. You can also write to the creditor who has listed the account on report.
- Avoid making credit card purchases and offer cash to keep the credit balances low. Higher credit balances affect your credit score badly.
- Payment history accounts 35% of the credit score. Therefore, you must clear all your missed payments before they are charged-off or sent to collection agency.
- Avoid making any new application for credit till your score gets repaired.
- Keep your eyes wide open while closing credit card accounts. Make sure it does not affect your credit score. You must keep those accounts open, which show balances.
- Pay off your debts at earliest possible to improve the credit score. If you fall short of money, sell off your belongings to make the payment. Though it’s hard but would worth it in the end.
Along with these ways to improve credit score, you can also opt for a professional credit repair software.