Is Your Credit a Bit of a Fixer-Upper? Here Are Some Credit Repair Tips to Help You Out

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credit repair tips

Posted: 8 March 2019

Alaska is the U.S. state with the highest average credit card balance with residents owing an average of $8,515.00

Credit card debt is a problem plaguing Americans as wages fail to increase in line with the cost of living. Like many Americans, are you concerned about your credit score?

Improving your credit score is a simple way to increase the quality of your financial health and life in general.

Keep reading for some simple credit repair tips to get you started on increasing your credit score today.

Fast Credit Repair Tips?

Repairing your credit takes time and effort. There is no magic fix to instantly repair your credit.

The best way to repair your credit is to manage it well over time. Credit repair tips that claim to be the fastest way to improve credit are the most likely to make things worse.

If you have a poor credit history, your first step is to repair that credit history and show creditors that you can responsibly manage your credit long term. Your credit score will improve as you demonstrate credit responsibility and develop a solid credit history.

You can learn more here about what is a good credit score. Keep reading for three things you can do today to fix your credit score and start developing a better credit record.

1. Fix Errors in Your Credit History

For the most part, the past is in the past when it comes to your credit history. If you have no credit history or you have missed payments and lowered your score, there isn’t much you can do to change that.

The only thing you can do is review your credit history and request that any errors that are negatively affecting your score be corrected.

You can order your credit report directly from your credit reporting agency or through an authorized organization that provides credit reports to consumers. Requesting your own credit report will not lower your credit score.

2. Make Payments On Time

Making late payments is one of the fastest ways to lower your credit score. If your payments are only a few days late, they will still negatively affect your score.

Similarly, if any accounts go to collections, this will have a major impact on your credit score. Collections accounts will remain on your credit history for 7 years even if they have been resolved.

Many banks offer their customers a payment reminder service which will text or email them a reminder when a payment is due. You can also set up automatic payments with your lender to have your minimum payment automatically withdrawn from your bank account each month.

3. Reduce Your Debt

One of the best ways to work towards fixing bad credit scores is to lower the amount of debt that you owe.

Immediately stop using your credit cards and incurring additional debt.

Go through your credit report to make yourself a payment plan. List all of the accounts you owe by the interest rate. You want to focus on paying the accounts with the highest interest rates off first and making the minimum payments on the remaining accounts.

More Credit Repair Tips

Repairing your credit is not something you can do overnight.

Improving your credit score will improve your financial health and lead to more opportunities throughout your life. You can take action today to start improving your credit score and building a stronger credit history.

Check out this article for more credit repair tips.

credit repair tips

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