By George Reed on February 13th, 2017
It can be surprising to hear but many people, even popular ones, had problems with a credit score. Yet, they’ve gone through it. There is even better news ahead. There are certain ways to increase a credit quickly. Of course, ‘quickly’ is a relative concept. It doesn’t mean a few days or even weeks.
But two months should be enough to make a difference. And obviously, it requires some time and effort to achieve success. Giving up is not an option here, you’ll have to get up and get it. Below you’ll find a few tips to consider, apart from the addressing a helpful installment loan website.
1. Check a Credit Score Out
The first step is to identify a problem. You won’t be able to do it without a credit score report. Instead, with the report, you are ready to go and fix the mistakes. Certain errors happen even with the best and the most responsible of us. For instance, there are cases, when credit bureaus confuse the names of relatives or even complete strangers. If something like that happened, your reputation is worth fighting for.
How can you fix that? The first step is to report a credit bureau about the mistakes you’ve found. It is better not to use a telephone or e-mail, cause there would be no evidence of doing so. A certified mail, in its turn, will be the perfect back-up. After that, one is much likely to get the charges removed. If a credit bureau is still unready to let go, then address the associated institutions.
2. Watch Out for a Credit Card Balance
One of the most important factors of credit reliability is a credit card balance. It is supposed to show a certain percentage. Namely, the amount of the received credit to the actually used money. A little tip, the less is more, in this situation, better as well. A good balance is lower than thirty percent. If it isn’t the case, you can do the following to improve it. Simply paying back and then keeping a balance in check.
However, there is still a possibility for the problems. The thing is, even paying on time doesn’t guarantee a low utilization ratio. It happens from time to time. Mainly these issues are with a correlation of credit balance on the account and on the bureau report. Thus, even with a regular payment, you may lose scores. One of the solutions is to find out, whether the multiple payments per month are possible.
3. Don’t Freak Out Because of the Old Debt
There are still some people, who desperately believe in the old debt stereotypes. According to this, an old debt is better to avoid by any available means.
Turns out, it isn’t that simple. An old repaid debt is, actually, a friend and there is no need to erase it from the credit history report. If there weren’t any troubles, this debt only adds up scores. It proves you’re a reliable client, who knows how to handle the situation with responsibility and stability.
4. Pay on Time
When one plans to make a significant purchase like a car or a home, striving for the big pile of cash is crucial. It is another story with the credit bills. You don’t want a whopping number on the account, otherwise, you’ll inevitably go down with a credit score. The simple solution is the best. Only repaying month after month is a truly great achievement. As with life in general, the devil hides in the details. Except nothing is hidden here.