Credit issues are always difficult and take time to get changed.
I always tell people that maintaining excellent credit will create opportunities and bad credit will rob you of potential opportunities.
Building credit takes time and discipline.
It is used as an outward expression of your trustworthiness, integrity, and character.
We all know that a bad credit score does not necessarily mean that you are not a bad person, banks, lenders, and other institutions use it to gauge the likeliness that you will repay you debts according to the initial terms and agreements.
A credit score gives these third parties a glimpse of your recent past so that they can make a credit decision.
It only takes one act of carelessness to significantly drive down your credit score.
One act of carelessness can ruin many years of good credit decisions.
Be wise and take care of one of your most valuable assets! There are no quick fixes to major credit issues, but here are quick tips to increase your credit score quickly: 1.
Keep your credit limit/credit balance ratio low - This ratio will affect your score.
Periodically call your credit card companies and ask them to increase your credit limit.
DO NOT spend more because your limit has increased.
This will defeat the whole purpose.
Lowering this very important ratio will increase your score.
Some credit card companies will allow you to do this every 6 months.
Some may require a copy of tax returns, pay stubs, etc...
to make sure you are financially capable of this increase while others may just look at your track record and award you an increase immediately.
2.
Check your credit periodically - You do not want to check it too often because that will lower your score, but it is good practice to check your credit annually to make sure that there are no mistakes.
If you do find a mistake on your credit-report, call the credit agency immediately to get it removed.
Mistakes happen, and they happen quite often.
There are many companies now who offer credit management and will notify you if something negative comes up.
3.
Do NOT open new accounts regularly - Credit is established when you have a good and long history with a credit card company, etc...
You do not need to open a new credit card account at every store you go to, even if they are offering $$ off your purchase.
Choose a good credit card or two and build a long lasting relationship.
Do NOT be late on payments.
Pay your accounts on time and do not cycle through different credit cards.
As you implement these tips you should notice your credit score will increase.
Take time to build your credit and learn what is needed to do so.
You will be glad you did and it will open many doors and opportunities in your future.