Mike Lee
12/3/2017 03:48:51 pm
Fix Your Credit Utilization Ratio. If your credit card balances every month are more than 30% of your limits, your score is suffering, even if you’re paying off your balances in full every month by the payment due date. That’s because your statement balance is most likely what’s being reported to the credit bureaus. So, keep an eye on those balances, and consider pre-paying some of the balance if you know you’ll be above that 30% mark this month.
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Mike Lee
12/3/2017 03:49:30 pm
Clear Up Any Collection Accounts. Pay off your debt instead of repeatedly transferring it to new accounts. Contact the debt collector listed on your credit report to see if they’d be willing to stop reporting the debt to the credit bureaus in exchange for full payment. This technically violates some of the collectors’ agreements with the credit bureaus, so it may be a non-starter, but it never hurts to try. Just be sure to get that promise in writing before you make a payment. Also, if it’s a debt that you don’t recognize or seems inaccurate, dispute it with all three credit bureaus. You may get it removed and see your credit score improve quickly.
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Mike Lee
12/3/2017 03:50:08 pm
Fix Your Late Payments Even closing an account won’t make your late payments disappear. Your best bet here is to get yourself back on the right track — set up payment due date alerts with all your credit cards and loans, and get organized. You can move credit card payment due dates around pretty easily on your bank or lender’s website. Be sure to check your payment due dates in relation to your paycheck schedule.
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Mike Lee
12/3/2017 03:51:22 pm
Pinpoint What You Need to Improve Simply by having an error on your credit report doesn’t necessarily mean it’s causing your bad credit. For example, if a misspelled version of your name appears in the personal information section of your credit report, that error probably isn’t causing your credit score to dip.
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Mike Lee
12/3/2017 03:51:51 pm
As you begin the process of improving your credit score, keep in mind that it’s a marathon and not a sprint, but improving your score is worth the effort. A poor credit score can potentially cost you tens of thousands of dollars over the course of a lifetime. It can also become a source of serious stress, making you feel like you just can’t leave the mistakes of the past behind and move on. Luckily, you’re not alone. Plenty of people struggle to improve their credit scores and there are numerous ways to build good credit, and reap the rewards that come with having a good credit score.
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Mike Lee
12/3/2017 03:52:31 pm
As you begin the process of improving your credit score, keep in mind that it’s a marathon and not a sprint, but improving your score is worth the effort. A poor credit score can potentially cost you tens of thousands of dollars over the course of a lifetime. It can also become a source of serious stress, making you feel like you just can’t leave the mistakes of the past behind and move on. Luckily, you’re not alone. Plenty of people struggle to improve their credit scores and there are numerous ways to build good credit, and reap the rewards that come with having a good credit score.
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