Is your credit score lower than you’d like it to be? Don’t worry – you’re not alone. A bad credit score can cause all sorts of problems, but there are ways to fix it.
Below, Your Debt Expert breakdown the top ways you can start fixing your credit score right now. Through helping individuals beat back creditor each year, Your Debt Expert provide advice on everything from setting up a trust deed to sheriff officers, council tax and more
Check out their 10 ways that will help you improve your credit score right now.
- Check your credit report regularly.
One of the best ways to keep on top of your credit score is to check your credit report regularly. This way, you can see if there are any negative marks that could be dragging down your score.
- Make all of your payments on time.
One of the biggest factors that goes into your credit score is your payment history. That’s why it’s so important to make all of your payments on time, whether it’s your credit card bill, your mortgage, or your car loan. If you’re having trouble keeping up with your payments, consider setting up automatic payments so you never have to worry about missing a due date.
- Keep your credit card balances low.
Another factor that goes into your credit score is your credit utilization, which is the amount of credit you’re using compared to the amount of credit you have available. It’s best to keep your credit utilization below low, and even better if you can keep it below 10%.
- Have a mix of credit products.
Your credit score is also affected by the types of credit products you have. It’s good to have a mix of revolving credit products, like credit cards, and installment loans, like mortgages or car loans.
- Limit your credit inquiries.
Every time you apply for a credit card or a loan, it results in a hard inquiry on your credit report. Too many hard inquiries can negatively affect your credit score. So, if you’re shopping around for a loan or a credit card, try to do it within a short period of time so that all of the inquiries will show up as just one.
- Use credit counseling services.
If you’re having trouble managing your credit, credit counseling can help you get back on track. Credit counseling can help you develop a budget, reduce your debt, and improve your credit score. credit counseling services are typically offered by non-profit organizations and can provide you with education and resources to help you get back on track. If you’re struggling with credit, don’t hesitate to reach out for help.
- Get help from a credit repair service.
There are also credit repair services that can help you remove negative marks from your credit report. However, be wary of credit repair services that make promises they can’t keep or that charge high fees.
- Negotiate with your creditors.
If you’re struggling to make your credit card or loan payments, don’t panic. reaching out to your creditors to try and negotiate a payment plan may be just what you need. Many are willing to work with you if it means getting their money back. Keep in mind that this will likely result in a bad credit score, which can make it harder to get approved for loans and credit cards in the future.
- Consider a credit freeze.
If you’re really worried about identity theft or fraud, you can consider freezing your credit. This will prevent anyone from opening new accounts in your name. However, it can also make it difficult for you to get credit in the future.
- Talk to a financial advisor.
If you’re not sure how to improve your credit score, or if you want more information about credit in general, talk to a financial advisor. They can help you understand your credit report and develop a plan to improve your credit score.
In conclusion, there are a number of things you can do to improve your credit score. By following these tips, you can get your credit back on track and start enjoying the benefits of good credit