Things you can do to improve your credit score
A tarnished credit report is both stressful and costly, but that’s not the end. The situation may seem hopeless to you, but bad credit won’t stay forever. There are some steps that you may take to improve your credit report. Read on to know about them.
* Stop using your credit cards : Stop using your credit cards to pull yourself out of debt as soon as possible. The more you purchase things with your credit card, the more you will fall in debt. Thus if you stop accumulating debt and concentrate on paying off the already existing debt, you can repair your credit.
* Get a copy of your credit report : It is very necessary to get a copy of your credit report from each of the three credit reporting bureaus so that you can check for any negative listings. Find out which accounts need attention and which are just left fine. Try to clean up your credit report at the same time.
* Get current on your accounts : The next thing that you need to do is to get current on your delinquent accounts. Remember that your payment history makes up 35% of your credit score. Thus do everything that is needed to boost your score.
* Don’t apply for new credit : While you are fixing your credit, see that you do not apply for any new line of credit. At such a time it’s likely that you’ll be turned down for applications and this will in turn hurt your credit score.
Your credit wasn’t damaged overnight. Similarly you can fix it overnight. Take the above mentioned steps to improve your credit report and become credit worthy.
You don't want to apply for credit unnecessarily at any time because inquiries on your credit report affect your credit score for about six months–or so I've heard. Even those who need to find a divorce lawyer should avoid financing the fees because this will hurt when the divorce is final and you are on your own.