Bad Credit History

Bad Credit History

Your credit score impacts milestone purchases, and when an opportunity presents itself, you don’t want your credit score standing in your way. And you don’t want to deal with the costs and consequences of a bad credit score over a lifetime. Unfortunately, it doesn’t take time for costs to build up, which is why it is crucial to spend time on your credit score now instead of waiting for it to get out of control.

When it comes to your financial health, you must choose a reliable consolidation company. While you find dozens online or maybe lured in by a famous ad but it’s necessary to see past the façade and do some background research before you opt for one.  Every company advertises to draw in customers, but that doesn’t make them reliable. Plus, you must look into agreement terms when opting for credit counseling or a debt consolidation company. To get in touch with a trusted member of our team, book your free and confidential appointment now.

How to Improve Bad Credit

Set Up Automatic Online Payments

Do this for all of your credit cards and loans, or at least get on the email or text reminder lists provided by the lenders. This will help ensure that you pay at least the minimum on time every month.

Pay Down Credit Card Debt

Make payments above the minimum due whenever possible. Set a realistic repayment goal and work toward it gradually. Having high total credit card debt damages your credit score and paying more than the minimum due can help raise it.

Check Interest Rate Disclosures

Credit card accounts provide these disclosures. Focus on paying off the highest-interest debt fastest. This will free up the most cash, which you can then begin to apply to other, lower-interest debts.

Keep Unused Credit Card Accounts Open

Don’t close your unused credit card accounts. And don’t open new accounts that you don’t need. Either move can damage your credit score.

If bad credit has made it difficult for you to get a regular credit card, consider applying for a secured credit card. It is similar to a bank debit card, in that it allows you to spend only the amount you have on deposit. Having a secured card and making timely payments on it can help you rebuild a bad credit rating and eventually qualify for a regular card. It also is a good way for young adults to begin to establish a credit history.

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