5 Ways To Fix Your Credit Score

Mark Oliver
Created by Mark Oliver (User Generated Content*)User Generated Content is not posted by anyone affiliated with, or on behalf of, Playbuzz.com.
On Aug 5, 2019
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There is no quick fix for poor credit score. This poor score will make getting credit cards or loans difficult for individuals. Credit score can improved but it is a gradual process that takes time. The steps that can help in credit repair in Jacksonville are as follows:

1. Check Your Credit Report

To get a better understanding of your credit picture, check your credit report.
You can also take help of an expert to read credit report better. On finding any information that is incorrect, file a dispute immediately. The summary of items on your credit report that you don't recognize could also be potential signs of fraudulent activity. Make sure you're clear on these items and report malpractices as soon as possible.
 
2. Improve Your Payment History

Your payment history is one of the most important factor that can help in improving credit score. Late and missed payments makes your scores poor . This negative information will remain on your credit report and impact your credit scores for 7-10 years. To avoid delayed payments ruining your history, try to make payments regularly and timely.
 
3. Know Your Credit Utilization Rate

Credit utilization rate take into account how much an individual owe compared to how much credit you have available. It is also called balance-to-limit ratio. High credit utilization rate can negatively impact your credit scores. To reduce your credit utilization rate reduce your debt by paying off your account balances.
 
4. Consider How Many Credit Accounts You Have

Scoring models consider how much you owe and across how many different accounts. If you have debt across a large number of accounts, it may be beneficial to pay off some of the accounts, if you can. Paying the debt is the goal of many who've accrued debt in the past, but even after you pay the balance down to zero, consider keeping that account open. Keeping paid-off accounts open can be a plus in your overall credit mix since they're aged accounts in good (paid-off) standing. Consider debt consolidation.
 
5. Keep a track of New Credit

Opening several credit accounts in a short span of time can appear risky to lenders and negatively impact your credit score. Before you take out a loan or open a new credit card account, consider the effects it could have on your credit scores.
Keep these five things that can help improve your credit score in no time.

Author’s bio: the author is a blogger and the article is about credit score.

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