Improving Credit in 5 Easy Steps

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Improving Credit in Five Easy Steps
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• So, you checked your credit score and the results
  weren't pretty.
• You have a lower score than you expected, and
  maybe some collection items you didn't know you
  had. Don't worry, the good news is that a bad
  credit score doesnt last forever and if you plan
  on improving credit over time, here are five
  great tips to get you started.

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Always pay your bills on time

• Even being late by one day can register on your
  bureau making improving credit more difficult. If
  you have no choice (and it happens) call your
  service provider, explain your situation
  honestly, and ask if they can change your due
  date as a one-time courtesy.

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Get the facts about collections

• When improving credit, keep in mind that paying
  off a collection debt will not remove it from
  your credit report, but it will stop it from
  doing more damage. Collection items will remain
  on your credit score for 7 years regardless of if
  they are paid or not, but left unpaid they can
  prevent you from improving credit by continuing
  to cause damage.

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If you can't pay, admit you can't pay

• Debt piles up, it happens. Maybe you lost your
  job, or had an illness, and the farther behind
  you became the harder it was to catch back up. If
  you're swimming in debt, don't try to steal from
  Peter to pay Paul, contact a credit counselor.
  Remember, there are always alternatives to
  bankruptcy and improving credit doesnt mean
  being perfect.

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Don't close cards, just keep them empty

• Closing a line of credit really won't help you in
  the long run. It is better to have multiple cards
  with low, controllable balances than one that is
  maxed out. Even if you manage to pay off a card,
  resist the impulse to cancel it when improving
  credit.

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Remove unwanted or old inquiries

• Hard inquiries affect your credit score.
  Depending on how low your score was before you
  began improving credit, many of the hard
  inquiries might not be from you but from
  collectors attempting to skip trace you for new
  legal information. To remove these hard
  inquiries, try contacting the professionals at
  Inquiry Busters- it's what we do best!

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