Improve Your Credit Score In These Easy Steps
We just came back from which was supposed to be a quick breakfast at the mall. This quick trip wound up in a 3 hour shopping spree where most of my store charge cards as well as my credit cards (that's right, plural!) were pushed to the maximum. Rather than just having breakfast, my husband and I returned with new shoes, clothing, bath towels for the bathroom and even a new office desk and desk chair!
The irony of the matter is that we did not have to once take actual cash from our wallets - we charged it all on credit! The shoes and clothing were bought on a charge card while the rest was split between the different credit cards. It is quite a weird concept - leaving a store with trolleys full of goods and feeling as if you got it all for "free"¦ that's until those monthly bills start turning up!
Buying on credit is so simple and hassle-free, it is no wonder that many people end up in deep trouble when not being able to pay back all the credit that they have effortlessly accumulated! The sad reality is that only missing a number of payments are all that's necessary to quickly label you as a poor payer with a a bad credit score history.
The good thing is that you can repair credit score once your credit rating has been negatively affected. The first thing would be to request a copy of your credit report from your local credit agency. Typically every person would be entitled to one free record in a certain period of time, usually a calendar year. Study that record carefully and make sure that all payments and credit appearing on that report are in actual fact yours. It can sometimes happen that someone else's poor credit lands on your record (we're all human, accidents happen) and you need to bring it under the attention of the correct individual.
If your credit rating shows that you are behind on any of your debt payments, you can repair credit score by settling these outstanding bad debts as quickly as you possibly can. You need to pay off the installments with the highest interest rates first as they can just land you in further issues if left unattended for too long.
Once you have had a look at your document you will quickly see which charge cards or credit cards are the ones that landed you in trouble. Pay those cards off and close them! If you know that you cannot control your shopping urge in a specific retail outlet, having a charge card for that store is just too tempting!
It is also a good idea to talk to a debt counselor to further help you to repair credit score. There are methods in which you can merge all your debt into a single account and then make one monthly payment, rather than always keeping track of ten other payments that you need to make month after month.
Try and keep your credit score as clean as possible - you do not want this to count against you when you need to apply for a motor vehicle or home finance loan.
tags:repair credit score,repair credit,credit score,credit
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