How To Improve Your Credit Score In 10 Easy Steps

Looking for ways on how to improve credit score? Here are 10 things you can do now to see your credit score rise from the ashes.

10 Easy Steps To A Great Credit Score

A higher credit score means better chances at getting the best in financial products (e.g. loans, mortgages, and credit cards). So, working on your credit score and making it the best it can be will reap several benefits.

A low credit score can possibly cost you thousands of dollars over the course of a lifetime. It’s also a source of stress, making you feel that you can’t leave the mistakes behind and move on.

Read on for 10 easy steps to improving your credit score.

1. Request A Copy Of Your Credit Reports

To begin working on your credit score, find out the areas that you need to work on.

Since your credit score depends on the data in your credit report, the primary place you should go to get a boost in your credit score is your credit report. Request a copy of your credit report and identify the accounts that require your attention.

2. Keep Your Credit Usage In Control

To get a higher credit score, manage your card usage and try not to utilize much of your available credit. If possible, your usage should be below 50% as this shows lenders that you are capable of managing your credit effectively.

3. Get Organized

Make it a point to pay your bills on or before their due date. Forgetting to pay bills can most definitely ruin your credit score.

If you can, the best way to pay on time is to set up direct debits to pay your credit card payments, phone, and utility bills. This provides ease and comfort for you, and your credit score will become all the better.

4. Correct Errors On Your Credit Report

If there’s any error on your credit report (like wrong address or misspelled name) it can hurt your credit score. In cases when your name is misspelled on your credit report, some of your credit accounts may not match correctly with your report. This could mean that if these accounts have positive behaviors your credit score will not benefit from it.

Make sure to correct errors immediately and remember that it is your right to have an accurate credit report.

5. Get On The Electoral Roll

If you name is not listed on the electoral roll, it will be harder for you to get credit. Registering on the electoral roll is among of the easiest ways to improve your credit score.

This helps credit reference companies verify who you are, and create an impression to lenders that you are stable.

6. Check For Fraud

If there is something on your credit report that doesn’t apply to you, like a new account set up that you don’t know about or searches you don’t recognize, immediately notify the credit reference agency and have your file updated.

7. Remove False Connections

Bad financial connections can have an impact on your credit score. If there’s any outdated financial connection on your report, like joint accounts that are already closed, get this updated immediately.

8. Pay Off Your Debt

Remove any outstanding debt before you apply for new credit. This is because credit card companies, banks, and building societies may become hesitant in lending to you if still have lots of existing debt.

9. Plan Ahead When You Need Credit

Credit applications result in hard inquiries on your credit report, and an excessive number of searches could negatively affect your credit score.

By planning ahead, you’ll be able to get your credit report in better shape before making a vital credit application. This will enhance the chances of you being accepted, which will help keep your credit report in check.

10. Ask For Professional Help

Resources, such as consumer credit counseling, are accessible to help you. If you’re not able to control your credit circumstances, seek an expert’s help.

You can find credit counseling agencies through National Foundation For Credit Counseling. You can also check your credit card statement for a telephone number to call if you’re having trouble making your payments.

I understand that getting an ideal credit score it is not an overnight process, but I hope these 10 easy ways to improve your credit score will help you in speeding up the process.

Did you find these ways helpful and interesting? Let us know what your thoughts are about learning how to improve your credit score in the comments below.

Want to keep your identity secure? Check out here 9 musts to keep your identity secure to avoid identity theft!