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Tips to Fix My Credit

Having bad credit can be a devastating blow. Having good credit is incredibly influential in our financial reputation. We must keep our noses clean when it comes to paying off our debts. 

Credit scores vary by age, state, and other factors. Although the average FICO Score in the US is 704, which is quite good, there are still plenty of us that desire to reach higher. 

Fixing bad credit doesn’t happen overnight. There are steps involved in improving your credit score. Here is a guide to show you how you can improve your credit score and get peace of mind in having good credit once and for all. 

Steps to Improve your Credit Score

  1. Check your credit report and get copies of your credit score

The first step that you want to take when repairing your poor credit is to check your credit score. You want to have the facts before you proceed with anything. Remember, your credit score is separate from your credit reports. Your credit reports don’t include your credit scores. 

Also, you don’t just have one score; you have three. Be sure to check your credit scores and credit reports from all three of the main credit bureaus – Experian, Transunion, and Equifax. Knowing your scores from all three of these credit bureaus is important because each contains different information that impacts your scores. 

On your credit report, you’ll see your payment history, types of credit, credit utilization, credit inquiries, and length of credit history. You can check your credit scores and reports from The Credit Repair Team to get this step started.

  1. Dispute errors on your credit report

Upon reviewing your credit reports, you may find some errors. Make sure that you fix these errors to proceed with the credit repair process. Hiring a professional credit repair company is a very smart move when searching for and disputing errors on your credit reports. 

You may not know what you’re looking for or where these errors lie, so getting a second pair of eyes on it could really help.

Once you’ve found these errors, it’s important to make a dispute. Dispute these mistakes with each credit bureau separately. Be thorough in your dispute and seek help if necessary. 

The Credit Repair Team can help you to resolve your situation affordably and precisely. We can help you to pinpoint every single mistake in your credit reports and get on your way towards repairing your poor credit. 

  1. Begin building a positive credit history

Your payment history is essential to your FICO Score. Having a good payment history is critical towards maintaining healthy credit accounts and a positive line of credit. 

To avoid a longer period of time between now and getting better credit, it’s vital that you pay off as many debts as possible. Your poor credit may be attributed directly to your credit payment history. 

Negative information will account for a negative impact on your overall credit score. Some of the negative impacts that you may be experiencing could be one or more of the following. 

  • Late payments
  • Foreclosures
  • Short sales
  • Repossessions
  • Bankruptcy
  • Charge-offs
  • Judgments
  • Collection accounts from collection agencies
  • Tax liens
  1. Control credit utilization

Credit utilization is the amount of revolving debt that you have concerning your credit limits. It’s your available credit limit compared to your total credit debt. This is the second actor in how your credit scores are calculated. To repair your credit, you must keep your credit utilization below 30% of your credit limits.

This means that you can’t simply charge your credit card for everything you do and not pay it back in time. Many Americas tend to take advantage of their available lines of credit, and they suffer for it in the end. So don’t bite the hand that feeds you. Repair your credit utilization so that you can repair your credit.

  1. Hire a credit repair company

How old your credit accounts are is a major factor in your credit score. It accounts for approximately 15% of your credit scores, and it’s also a big part of your credit utilization. The age of your credit is calculated by comparing the age of your oldest credit accounts by the average age of all of your credit accounts. 

There’s not a whole lot that can be done if your credit age is a negative impact on your credit scores. We can’t go in a time machine and turn back time. However, it may be smart to have a credit card. 

You can use the credit card little by little for minimal purchases that you can pay off fully each month. This will prevent credit agencies from canceling the card due to inactivity, and it shows that you’re paying back your debts quickly. 

Repair Your Credit With the Credit Repair Team

There are many reasons to start on the path towards repairing your credit. Your poor credit affects you every day whether you see it or not. It affects your interest rates on your credit cards and credit loans. 

Having poor credit can prevent you from taking out loans, buying a car, or even placing a deposit on a rental home. It also affects your insurance rates as well.

Good credit means financial freedom. You won’t have to depend on a cosigner to help you secure loans or make purchases. You’ll be independent and free to purchase anything that you can afford. Hire a professional to get you started on your credit repair journey. 

The Credit Repair Team will provide you with a free credit consultation, free credit audit, and free credit score evaluation. We will help you determine the best course of action when repairing your credit. Contact us today for a free evaluation

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