Posted on Jan 7, 2019

The Legacy Group, Ltd.

Start Fixing Your Credit Score Today:

Whether you like it or not, a good credit score is essential. Your credit score factors into everything from insurance rates, to whether you get the job you applied for. A good credit score is also needed to buy a house, obtain cell phone service, rent an apartment, and buy a car.

Of course, life happens, and your credit score can plummet. Perhaps you lose your job and can’t pay your rent or mortgage, or you have unpaid medical bills that have gone to collection. Or maybe you haven’t yet established your credit. But the good news is that there are ways to get your credit score into the fair or good category. Here are a few things you can do once your financial situation has stabilized:

1. Pay your bills on time. There’s nothing you can do about past due balances that have gone to collection short of paying them off, but going forward, do everything in your power to pay your bills on time. Being even a few days late with a payment can cause your score to drop.

2. Reduce your amount of debt. Your credit score is affected by the amount of debt that you carry. Reducing or eliminating that debt will raise your credit score accordingly.

3. Be leery of excessive credit card use. While a credit card will give you an available credit amount, your credit score can drop as credit card use rises. If you must use your card frequently, make every effort to pay the balance, or a good part of the balance monthly.

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