How to Fix Your Credit

Infographic and article provided by TFC Title Loans.

How to Fix Your Credit

Your loan application could either be approved or denied since one major factor that qualifies you for a typical loan is your credit score.

Fixing or repairing your credit is not rocket science. It begins with you. And you must act swiftly.

The good news is; it could even take only a few days to boost your credit by a significant amount, provided you are following a working blueprint from an experienced credit expert.

Here’s how you can fix your credit problems;

  • Get a Copy of Your Credit Report

From credit bureaus like ExperianTransUnion or Equifax, you can quickly get a copy of your credit report (which gives you access to your credit history) for free.

  • Review the Credit Report

The review allows you to check for any irregularities, incorrect information or negative remarks that are inaccurate and misleading.

  • Dispute Errors and Incorrect Information

It is 100% legal to dispute errors and derogatory remarks on the credit report that projects you as a borrower that is not creditworthy.

  • Begin to Monitor Your Credit Score

With free platforms like Credit Karma, you can start to monitor your credit activities and take swift action in case of any irregular or suspicious activity.


Useful Tips to Improve Your Credit

  • Avoid late payment of your current account. Setting up a payment reminder will be very beneficial in this regard.
  • Start prompt payment of your debts, outstanding bills, mortgages, car loans or any other installment payments. This will add positive information to your credit.
  • Cut down on your expenses. Decide to make cash purchases more often, as it will help you reduce impulsive credit card shopping.
  • Avoid piling up more debts than you can comfortably handle. Creating a budget and sticking to it can also help you avoid accumulation of debts.
  • Your credit utilization rate or your balance-to-limit ratio (overall debt divided by your total available credit) should not exceed 30%.
  • You can reduce your credit utilization rate by lowering your credit limit or completely pay off any debt on your account.
  • Avoid settling your debts in collection. This is because, when you pay off a collection account, nothing still changes in your credit report until after seven years.
  • Be careful! Opening a new credit account could negatively impact your credit score.
  • If you already have numerous credit accounts, you should pay off some of them entirely and keep the paid off credit accounts open.
  • Personally strategize a plan that will enable you to pay up your debts on time or employ the services of a reputable credit repair company to help you with a good plan.


How About Getting a Secure Credit Card?

You could enjoy some positive impact on your credit when you get a secure credit card. However, it’s not just about having the new credit card, but about being responsible in the way you spend with the card.

Making timely payments is the key to rebuilding your credit through a secure credit card since the creditor will always report to a credit bureau.


It’s Easy to Repair Your Credit

Fixing your credit is more like exploring your credit report to discover anomalies or errors and then taking steps to make adjustments and corrections.

However, it takes time and discipline to improve your credit. And if you can follow the guidelines above, then fixing your credit won’t be difficult at all.

Top Tips for Healthier Credit

What Do I Need to Know About a Healthier Credit

If you want to borrow money and don’t get into a financial trap, try to plan your steps correctly. You may invent a certain kind of plan and follow it while taking and paying back your credits.

Today, we’re going to share some tips and clues with you on how to plan your financial activity and how to get a healthier credit:

  • Start with checking your credit report;
  • Make sure that your potential creditor is going to leave no credit check payday loans in your credit history;
  • Plan your expenses to save money;
  • Make sure that the interest rate you’re going to pay for a taking a payday loan isn’t a large one;
  • Try to improve your credit score;
  • Take a debt consolidation loan;
  • Don’t overdue your credits and loans.

Which Superhero Has The Worst Credit Rating?

Have you ever wondered what a superhero’s finances really look like? What do you think their credit rating would be in the real world? Well thanks to Aspire Money and this cool cartoon based infographic, you can discover all you need to know about the financial situation for Superman, Batman, Ironman and Spiderman.

Income, outgoings, expenses and more are covered to find out what the credit rating is like for some of our favourite fictional heroes.