- Posted February 2, 2014 by
Tips To Follow To Fix Bad Credit
Bad credit is an unfortunate detour on the road of life. It can prevent you from leading the life you desire and living your life to its full potential. Here are a few easy tips on how you can fix your credit and make sure it stays positive in the future.
If you are trying to improve your credit score but are having difficulty gaining access to new credit in order to do so, join a credit union. Credit unions often offer better interest and more options than chain banks do.
Make sure to fully read every single credit card statement that you get. Make sure you aren't paying for purchases you didn't make. You bear the responsibility for looking after your own best interests, and you are the only person who will know if your statement is accurate.
Maintain a log of every attempt you make to rectify erroneous information from your credit report. Make a note of all contact you have with the credit bureau. Write down a summary of all phone calls, and keep copies of any paperwork or emails you send or receive.
Keep a record of everyone you talk to, and include copies of letters and records of phone calls you make and receive. Use certified mail to send dispute letters so that definitive proof exists that they are sent and received.
TIP! You should get all terms and conditions in writing if you choose to deal with a creditor. If there is a change of heart, this paper will protect you.
It's easy to lower your interest rate by ensuring your credit score is high. Lower interest rates make paying bills easier, and prevents you from incurring debt. Make sure to use a company that gives you the best rates so your bill isn't being built up by money you haven't even spent.
Your record of repayment will help improve your credit. Make payments to your credit card that include more than the minimum payment amount if possible each month. Your credit report can be tarnished even by a few late payments. Paying something every month helps prove that you are creditworthy.
Give your credit card company a call and ask them to lower your credit limit. This will prevent you from spending too much that you do not have. It will also show the credit companies how responsible you are, and if you do need to get more credit in the future, you will have a much easier time.
Paying all of your bills in a timely manner is a vital component of determining your credit score. Setting up payment reminders will help you remember to make the payments. There are many ways to remind yourself of impending due dates for your bills. Your bank likely has a program that will send email or even text reminders.
TIP! On the way to a better credit score, some people might pressure you towards unaffordable payment plans or lump sums settlements. It is important to stick to your budget so you do not over-commit on debt repayment.
Learn More about Credit Score Here