5 Quick Tips to Grow Your Credit, June 2018

We've all been there...you know, covering our eyes before checking our credit score. Sometimes facing the reality of our scores can be as horrific as a Hitchcock film. Nevertheless, we have to know so we can grow. Below are five tips to grow your credit and step into financial freedom.
 
1. Know your credit score!
Your score tells all. Knowing it can make a difference. Take some out time to consistently monitor your report. Know where you rank, check for errors, review your payment history.
 
2. Set-up payments!
Can't pay in full? Not a problem - but contributing at least 30% of a past-due bill, each month will show debt collectors that you're serious about resolving the issue.
 
3. Get current and stay current.
Seriously...don't miss a payment. If you are having a hard time making ends meet, contact your debt collector and negotiate a new affordable payment. Late or missed payments will have you back-peddling.
4. Open accounts only if necessary.
While having credit cards will rebuild your credit score - it can sometimes backfire if poorly managed. Open and apply for lines that are necessary to your success.
 
5. Stay patient!
Paid off your debt? That's great! Keep in mind that past due balances have different consequences. The Fair Credit Report Act states that "most negative items must be removed from your credit report seven years from the first date of delinquency." Bankruptcy, judgements and amount owed can all play a part into how long accounts stay on your report.
 
Repairing your credit is like losing weight - it takes time and dedication. Use your best judgement at all times. Set clear goals and remain focused through it all.