Your credit score speaks volumes about you as a trustworthy client for banks, loan and insurance agencies. It is a clear depiction of your ability to manage your credit.
There is a possibility that you may not get the perfect score in the range of 800-850 although you’ve been doing everything right. That’s where the problem lies because the metric of measuring your performance can be impacted by many things you consider to be insignificant. Though it may be helpful to learn how to write a credit dispute letter, the following practices can be good for your credit score.
Payment on time
Nothing can ruin your credit score quite as bad as the number of payments you have due or you have consistently been paying late. If you feel that paying every month is becoming difficult for you, you can make different attempts. However, if money is not the issue and it is just with your regularity, then you are making it worse without an obvious reason.
Ask your bank to send you regular reminders regarding your credit card payment because most banks have that feature enabled. You can also utilize the automatic payment feature most accounts offer today. With that, the basic amount you have accumulated for the month is simply paid off with your next income.
The process of reducing loans is not easy, especially after you have become accustomed to the lifestyle where you just take out your card for any and all payments. While it is not advisable for you to completely cut yourself off of the banking network, those accounts which are not needed can be closed off.
By doing that, you will clear yourself from any unnecessary debts and not get involved in the race for interest. Come up with a budget through which you can pay off your highest interest rate credit cards(s) first. Even when you are left with a single bank to which you owe credit, try your best to not use your credit card. Unless it provides you an absolute advantage, such as signing you up for a privilege program in a partnered brand.
You may be the victim of incomplete transaction information and errors/omissions in your credit report. These may not be your fault because this document is essentially managed by FICO, but you can become a victim of it because the information is solely associated to you.
In such times you have to make a wise call, and that may include taking up the services of a credit repair company. Beware though, because sometimes the quick fixes which these companies can offer are not exactly appreciable. Unless you have representation on a legal level through which you can compare your transaction information to the missing slot on the report, along with citing all the laws which allow you to make that change, you may not be able to fix it.
From the looks of it, managing an appreciable credit score may not be that difficult, but to succeed in this regard, you must start with the changes today.