Good Credit Scores This Way Ahead!!!

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12 Ways to Protect and Build your Credit

If you are in need of credit assistance and guidance on how to build your credit, then look no further!

  1. Dispute errors. By law each year you are entitled to a free credit report thru Equifax , Experian and Transunion credit bureaus. Go to www.annualcreditreport.com and request this thru them directly and dispute anything that appears to be incorrect.
  2. Negotiate. If you do find that there are late payments reported or balances that are not paid as agreed reach out to the creditor in attempts to pay them off or atleast agree upon a balance to get the amount showing as finalized on your credit report so you can move forward and build better credit references. Leaving them unresolved will not help your score.
  3. Check your limits. If you are showing balances using over 40% of what is available you are lowering your credit score. Make sure you are not using to the max of what you can.
  4. Get a credit card. Most lenders like to see 3 good credit references. Make sure you handle the card correctly, pay on time and do not use max available and keep those in good standing to build your credit score.
  5. Obtain a secured card.  If you have had bad credit card use in the past you can obtain a secured credit card where the bank will open a savings account allow you to deposit your own money to secure the line open.  Normally they start out at $300-$500 which is ok as you are starting out new and proving yourself credit worthy again.
  6. Add yourself as a Secondary.  If you cannot be approved as a card holder you can request being added at a secondary to an existing credit card which will report the history equally as yours if you are added to a account where the person is a responsible card holder.
  7. Raise your credit limit. If you are unable to pay off a large portion of a high balance credit card you can request to have the line increased so as to lower your usage percentage.
  8. Don’t close any cards. You can simply keep the line open and paid off but either freeze the card in an ice cube to not use it or cut it up and not request one to keep in hand. That way you are showing the reference paid in full but not used.
  9. Pay your bills on time. Late payments account for most drops in credit score its going to be viewed as mishandled if not paid on time therefore causing other creditors to not want to approve you for credit.
  10. Mix it up. You can open a car loan if necessary and a store credit card as long as you are handling the payments on time and not abusing the credit line available.
  11. Stop spending money! If you can save that’s the best thing to do. Do not fall for every gimmick or sale you see and purchase away.  Control spending while repairing or building credit.
  12. Beware of scams. Do not give out your social security number, name or date of birth to anyone asking that you do not know. Very quickly you can have accounts opened in your name fraudulently and then repairing it will take a longer time than simply preventing the fraud from the start.

If you are in need of further credit repair assistance, please feel free to contact any of the highly qualified lenders on my site by clicking here for further assistance to get you on the path to home ownership!

Life takes you unexpected places, Love brings you Home.

 

 

 

 

 

 

Kelly Gronau Dodson

Kelly Gronau Dodson

Realtor® | e-Pro® | SRES® at Coldwell Banker Elite
REALTOR® with Coldwell Banker Elite in Locust Grove. Licensed in the Commonwealth of Virginia. If you, or someone you know needs to buy or sell a home, please give me a call! 540-287-6807
Kelly Gronau Dodson
Kelly Gronau Dodson
Kelly Gronau Dodson

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About Kelly Gronau Dodson

REALTOR® with Coldwell Banker Elite in Locust Grove. Licensed in the Commonwealth of Virginia. If you, or someone you know needs to buy or sell a home, please give me a call! 540-287-6807