5 Easy Finance Solutions to Improve Your Credit Score Quickly

Credit repair does not have to be difficult. With the proper finance solutions it won’t even take more than a few months to improve your score. Follow these simple 5 steps and you will be able to borrow from lenders with interest rates you can afford.

A higher credit score can qualify you for lower interest rates and better finance terms. Even though you can qualify for a loan with a lower credit score, you’re going to suffer with the interest rates. The thing is, you need to know that your credit is doing okay if you hope to get a mortgage one day. Mortgage companies will look to your credit – even if you have a fantastic income that remains steady. You can figure out what you need to save for your mortgage with websites like MortgageCalculator.Org, but you do need to consider your credit, too. Credit building is important for your mortgage application as it needs to be squeaky clean and high enough that you can get approved for a mortgage without those high interest rates we mentioned. It takes time and effort to get your credit rating back on track, but it doesn’t mean that it’s impossible.  You can’t fix your credit score overnight, but it can happen faster than you think if you do it right.

1. View your credit reports from all major credit bureaus. Check your report from Equifax, Experian, and TransUnion. You are entitled to a free credit report once a year. Some companies will report to one or two bureaus only, which is why it is important to check them all. A quick way to take a look is to go to Free Annual Credit Report. Some banks, particularly credit unions, will show you your FICO score once a month as a member benefit. Certain credit card companies will as well.
2. Dispute negative or invalid marks on your reports. It is free and easy to dispute anything negative or invalid on your credit report by using a site like Credit Karma or going directly to the credit bureau itself. The credit bureau will review the dispute, contact the creditor and make a decision. If the creditor does not validate it within a certain period of time, it will automatically remove the negative mark. If that feels like too much work, you can look for a company that will do the disputes on your behalf.
3. Open a new line of credit. If your score is low, you can even pay to open a secured credit card. A secured credit card is one where you make a deposit, such as $100 and that is your line of credit until your score improves or you prove yourself to the creditor that you will make on time payments. 
4. Increase your credit limit and don’t max out your credit cards. Your credit utilization score counts for approximately 30% of your credit score. The closer to your maximum limit, the higher your utilization score. One thing creditors look for is if all of your lines of credit are maxed out, because that screams that you’re not being responsible with your finances or you’re in financial hardship. 
5. Pay your bills on time, every time. Even a single late payment can negatively affect your score. Consistent, on time payments are another thing any financial solutions company will recommend. Some lenders are quicker to report you than others, such as mortgage companies and car loans. They will report any late payment that goes past 30 days. Even companies such as utility companies won’t report to improve your credit, they will be quick to negatively impact you for being late. If you can’t make your payment call them, most will work with you because they’d rather see the money than send you to collections.