By improving your credit reputation, you can get back your financial life back on track. Occurrence of bills like excessive loans, medical bill, or some other miscellaneous is prone to affect your credit. However, a drop in your credit level doesn’t necessarily mean the end for your credit account. This is because you can successfully rebuild it to perfection. One thing we often reiterate at Credit Repair Greenville, SC, to our customers is that there are no shortcuts to arriving at a better credit. It can only be achieved with the way you continuously demonstrate your value, worthiness and with enough patience.
The First Step
The first step to take is to ascertain if you have credit already in your account. You may not recall buying things charged to your account or may even be unaware of the fact that something has been reporting to the credit reporting agency. To have this happening means that you have an established credit account that can be improved upon. All your personal credit reports will be obtained from the reporting agencies. The reports we get from these agencies will then be used to determine where you can easily start fixing your credit.
Monitoring your payment schedule should always be made paramount. This is because your payment history goes a long way in proving your value to lender and creditors. 35% of your FICO score is represented by your payment history, as such, you should prevent negative accounts from being added to your credit report. Always ensure promptness in your payment to build a good credit score. It is even advisable to pay ahead of your due date. At Credit repair Greenville, SC, we always admonish our clients to always stay on the positive side of their payment history by regularly making full payment each month. To know more about the negative impact of late payment on your credit report, kindly contact us or any of our associates.
The Amount You Owe
The amount of credit you owe also determines 30% of your FICO score otherwise seen as the utilization rate. It is the ratio of credit card balances to the credit limit. Experts recommend not using more than 10% of your loan to ensure your utilization rate is good. Some even put the appropriate value at less than 30%. This is due to the fact that lower the utilization rate suggests better credit score. Therefore improve your paying off of any high balances on your credit report.
Some other factors to consider while building your credit are;
Contact Credit Repair Greenville SC at 864-428-9118 for free estimates.