Improve your Credit Score
Your credit score is not something that should be overlooked. It is important to know your credit history and credit score if you ever want to get a loan or credit card. Simply knowing your credit score is not enough, you need to work at getting it as high as you can.
If you don't have excellent credit, you are probably coming from one of two places. Either you have bad credit because you have had a history of not paying your bills on time or you have made some mistakes and not paid off everything entirely, or you have no credit at all. In either of these situations, you might think it will be impossible to get your score up, but it's not. The people who now have excellent credit started somewhere. Everyone starts with no credit and there are many people who have repaired their bad credit.
If you have no credit at all, you will need to start from scratch. Contrary to popular belief, you don't have to apply for 10 credit cards and max them out to build credit cards. You don't even need one credit card. Paying off any kind of loan can help to build your credit.
If you are good with your money and have someone that can trust you that has good credit, they can cosign for you. For example, if you want to take out a small loan for a car and you have no credit, your parents can cosign with you to get the loan. If you don't pay, your cosigner will have to pay, but of course, you will pay because that is what you need to do to build credit.
You might not need a loan anytime soon. This gives you more time to take a slightly less aggressive approach. Pay all your bills on time. Over time, paying bills such as rent, utilities, and your cell phone will all help to build up your credit. Anything you finance, such as a computer, will also build credit.
If you can pay for something up front, don't finance it. You could finance it and pay it in a couple months. This will help to build up your credit while only paying a little bit in interest.
If you have bad credit and you want to improve your score, you need to follow the same advice. If you have bad credit, it was because you weren't paying your bills in the past. You need to stop doing that. Always pay your bills on time. Get in the habit of paying them early if you can.
If you can't pay your bills on time, you need to budget so that you can. If you can't pay your bills on time it means you are living above your means and you need to start cutting out expenses. Cut up your credit cards and pay them off as soon as possible. Credit cards will not help your situation. Credit cards should only be used as a way to build credit as a last resort.
If you don't have excellent credit, you are probably coming from one of two places. Either you have bad credit because you have had a history of not paying your bills on time or you have made some mistakes and not paid off everything entirely, or you have no credit at all. In either of these situations, you might think it will be impossible to get your score up, but it's not. The people who now have excellent credit started somewhere. Everyone starts with no credit and there are many people who have repaired their bad credit.
If you have no credit at all, you will need to start from scratch. Contrary to popular belief, you don't have to apply for 10 credit cards and max them out to build credit cards. You don't even need one credit card. Paying off any kind of loan can help to build your credit.
If you are good with your money and have someone that can trust you that has good credit, they can cosign for you. For example, if you want to take out a small loan for a car and you have no credit, your parents can cosign with you to get the loan. If you don't pay, your cosigner will have to pay, but of course, you will pay because that is what you need to do to build credit.
You might not need a loan anytime soon. This gives you more time to take a slightly less aggressive approach. Pay all your bills on time. Over time, paying bills such as rent, utilities, and your cell phone will all help to build up your credit. Anything you finance, such as a computer, will also build credit.
If you can pay for something up front, don't finance it. You could finance it and pay it in a couple months. This will help to build up your credit while only paying a little bit in interest.
If you have bad credit and you want to improve your score, you need to follow the same advice. If you have bad credit, it was because you weren't paying your bills in the past. You need to stop doing that. Always pay your bills on time. Get in the habit of paying them early if you can.
If you can't pay your bills on time, you need to budget so that you can. If you can't pay your bills on time it means you are living above your means and you need to start cutting out expenses. Cut up your credit cards and pay them off as soon as possible. Credit cards will not help your situation. Credit cards should only be used as a way to build credit as a last resort.
About the Author:
What is a good credit score? This is most likely something many you ask. Get your personal credit reports to find out how your credit is.
posted by Debt Consolidation Loan at
4:38 AM
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