Tag Archives: credit score

How Can You Change That Low Credit Score?

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Low credit score–you had no idea! How did it happen without you even being aware? Look, if you don’t pay attention to your financial habits and work to keep your credit rating healthy, it will drop, and you won’t be alerted about that either. It’s murky waters out there, but you can keep from drowning. Too many Canadians are hit hard with a poor credit score they had no idea about. The sad news is that bad choices from the past can come back and haunt you, ruining what was a great score before you ever realize what is happening. The tips below can help you avoid financial mistakes and help you to get your credit score back up where you need it to be!

 Let’s Get Started Getting That Credit Score In Shape

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So, the first step to take is to become more proactive with your finances and your credit.  Understanding how to keep track of data like this can help you catch a suspicious transaction that has the potential of destroying your credit too.

  1.   If you carry a high balance on your credit card every month (even if you pay it off) it goes against you. This makes it appear you rely on your credit card to survive month to month. Some have the idea that this builds credit, as long as there is a 0 balance carried over. It’s simply not true. Don’t exceed 40% of your available credit.
  2. One of the biggest mistakes an individual can make is applying for too many credit cards. Every time you apply for a credit card you have the potential of denting your score. This makes you look needy and might steer good creditors away.
  3. Sadly, some Canadians can find their accounts sent to collections without ever having any idea of it. Those accounts which are more prone to this happening are medical. It might not seem fair, but it happens almost daily. Much of this falls onto the fault of insurance companies not paying claims on time. However, consumers are the ones who suffer financially.
  4. You need to consistently check for errors on your credit report, because they do happen. If you find something that is concerning, or which you know is not accurate then you should make the proper contact so that the issue can be resolved and your credit can be repaired.

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Just these 4 simple practices can help to make a difference in your financial habits and certainly your credit rating. We all make mistakes, it’s natural. It’s how you approach your mistakes that change your life. Start building a good, solid credit history today and pay attention to your own financial habits as well. Slowly but surely you’ll see that score begin to rise!

5 Proven Tips To Raise Your Credit Score In 2016

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That credit score is everything, isn’t it?  For so many Canadians, it is like a ball and chain, forever holding them back from lower interest rates and better financing opportunities in general.  Your credit score can keep you from landing a great job.  Now, while this doesn’t seem fair, it’s just how things work in some parts of the world.  Within Canada, and all across British Columbia–a poor credit score certainly spells disaster. While it isn’t easy to get that credit score raised, there are now new and guaranteed ways of doing so.  You can allow 2016 to be the year you’re willing to put forth that 150% effort.  Once you get your credit score healthy, you’ll be amazed at the rewards and benefits which come your way.

Those with the best credit scores are awarded low interest rates, exceptional mortgage loans, great car loans and so much more.  There are even more perks to discover when you get that score in check, but remember, it didn’t get poor overnight. This means: don’t think you’re going to see a transformation in 24 hours either.  However, if you follow these tips you’re going to make headway and reach your goal faster.  So, let’s get started!

Tips You Can Rely On To Raise Your FICO Score In 2016

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Now, if you’re looking for some immediate relief, there are three tips that are outside of those traditional moves that enhance and improve your FICO score overtime.  You might know about this and you might not, but we did think they were worth sharing. The first of these three is all about how you are using your credit.  You should never exceed more than 40% of your available credit limit, and if you do, you should at least pay half of the balance due at the end of every month.  Also, if you have other credit cards, this will open up more credit for you, and if they are used wisely you’ll build up a solid credit history. Just use them for what they are intended for–improving your FICO score!

Another quick fix is checking your report for errors.  Many Canadians have errors on their credit report, and many don’t even know about it.  This can happen from identity theft, to a charge-off, to a simple clerical error.  You can always dispute an item on your credit report and give your side of the story.  Further, if you see small items that need paid off–why not do it? There are so many walking around with items on their report that could easily be improved.  You have to put in the time and effort if you want to improve your FICO score quicker than normal!

5 More Common Tips Toward Raising Your Credit Score

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Remember, those tips mentioned above almost always raise your score 2 to 3 points, but the following strategies take a bit longer and a little more work.  Let’s get started:

Tip 1: Pay more than what you have to on any credit card or loan payment you might have

This illustrates a trustworthy consumer.  Professionals will view you as someone they can have faith in and who is more than honest.  You’re depicted as someone who takes their debt seriously.

Tip 2:  Pay off your card with the highest credit limit

If you’ve used more than 50% of the credit on a specific card, and it happens to be a high-end one, do your best to pay it off totally.  This kind of habit shows that you’re not living on credit, but only building up your credit.  In other words, lenders will see you have disposable income to pay your debt.

Tip 3:  Sign on as an authorized user for your dependents

If you have a teen who is attempting to build credit, signing with them can not only help them build credit, but it can help you repair your own minor mishaps.  As long as they are responsible, and pay their bills on time, this will bring some positive reinforcement for your own credit.

Tip 4:  Did you know you could make more than one monthly payment on your credit cards

Yes!  You can pay twice, or even three times a month if you want to.  The more you pay on these forms of debt, the better your credit report will look.  Don’t place yourself under financial duress to meet a goal like this, but if you can–definitely do so!

Tip 5:  Try to get rid of unpaid collection items

There are more Canadians who are facing FICO drops due to issues like these versus late payments and only paying minimum payments on debt.  If you can find a way to consolidate collection debt it might help you get rid of it sooner, thus improving your score.

If you follow even just a few of these tips you’ll see improvements in that FICO score sooner, rather than later!  Make 2016 the year you begin tackling debt and getting your finances on track.

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Learn 5 Reliable Ways To Improve Your Credit Score

Keeping your credit report tidy and organized is critical to your financial portfolio.  You don’t want to sweep financial errors under the rug as you would a dust bunny.  Instead, do your very best to pay off debt before it escalates and tarnishes your financial future.

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Have you been searching for reliable ways to improve your credit score? Today, your credit score is everything.  This impacts your ability to purchase a car, buy a house, get a credit card, apply for a loan and so very much more.  If you’ve made mistakes in the past and this has adversely affected your credit score, you’re not alone.  There are many Canadians across British Columbia who are struggling to rebuild their credit and diligently seeking reliable ways to improve their credit score.

You CAN improve your credit score with the right strategy.  One of the first ways Canadians can begin making a dent in debt and improving their FICO score is by minimizing their risks for being late paying ordinary bills.  That’s correct.  Late payments on bills can stack up against you badly, leaving you digging your way out of the hole.  So, establishing priorities and paying your bills on time will begin moving you in the right direction.

Canadians also need to acquire a recent credit report to view payment history and to discover what accounts might be negatively impacting their score.  It’s important to maintain and manage your credit once you begin to understand how it all works as well.  For instance, reviewing your credit report at least once a year, just to ensure the most accurate information is listed is absolutely necessary–specifically when you’re trying to repair poor credit history!

Now, it’s time for you to find the five primary ways you can enable yourself to start bringing that credit score up and improve your financial portfolio once and for all! Don’t continue to trip over your shoe-laces and ignore the importance of a clean financial history and don’t continue to live above your means! There are times you must learn to walk before you can run!

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The Top 5 Reliable Ways To Improve Your Credit Score

Never forget the importance of ensuring their are no mistakes on that credit report as these can be extremely damaging.  42 million Canadians across British Columbia have errors on their reports, with approximately 12 million of these same Canadians suffering adverse credit scoring due to errors. You don’t want to be a part of these statistics, so please follow the advisement given earlier–it will make a difference.  You can also polish your damaged credit by following the very latest tips listed below, but do give it time. Your credit didn’t reach a state of disarray overnight so allow for patience and commit to improvement by making smart financial decisions daily.

  • Correct small discrepancies in your credit report before they become large
  • Pay attention to identity theft risks and ensure your identity is protected 
  • Pay credit card bills on time to build positive credit
  • Make certain corrections on your credit report are followed through with all three bureaus 
  • Limit credit inquiries on your report as most stay on for at least two years