Tips For Improving Your Low Credit Score
Are you trying to build back up your credit? If so, then you know that this can be a challenging thing to do.
I can remember being declined for loan after loan until it finally hit me that I need to do something about my credit score so that I can get the financing that I desire.
If you didn't already know, a good credit score is at the cornerstone of a great lifestyle.
You will need to have a good credit score for all sorts of situations in life.
For example, when there are times that you need emergency money, you can sometimes get it in the form of a loan.
I'm not talking about a payday loan - I'm talking about a loan that you take out from the bank.
This is something that I wished I had at my disposal a few years ago.
If I had a good credit score, I wouldn't have had to go through a lot of the things that I did when I was younger.
For example, I can remember a time when I didn't have the money to pay my rent for the month, so I had to pawn virtually everything in my home just to make ends meet.
And trust me, this wasn't a glorifying time in my life.
You don't want to have to resort to this drastic option.
If I had a good credit score, I could have just went down to my bank and ask for a $1,000 loan.
But I didn't have the score to do so.
Now I can proudly say that I've re-established my credit and I'm able to get financing for things that I previously wasn't privy to.
Your 3-digit FICO or credit score means everything.
It's what lenders will use to make a rational decision about you.
They can't tell if you're a morally good person.
Even if you approach a teller in the bank and inquire about a loan, they will try their best to help you out, but the fact of the matter is that the final decision will come down to how high your credit score is.
You don't want to go around with a low credit score for a number of reasons.
With a low credit score, you may get approved for a loan, but it will be at rates that are high and undesirable.
If your credit score is low, the right time to do something about it is now.
Here are some tips that you can use to improve your credit score today.
1) Don't apply for more cards I understand that you may be strapped for cash and that you're tight on funds, but the last thing that you want to do is start applying for more credit cards.
To many credit inquiries can do harm to your credit score.
Plus, you will more than likely get denied for credit, and these 2 combinations can really affect your credit score.
Instead, try to work with the cards that you do have.
Pay all of those off first and when your score improves, then try to get cards from better companies.
To your benefit, if you really need more money, you should try going to your lenders and seeing if they will give you a credit limit increase.
Nobody will lend you money faster than your current lenders, but you have to prove that you're able to be responsible for your payments.
Here's another tip.
2) Pay your bills on time I believe I mentioned this earlier in this article.
Be sure to pay your bills on time.
Get on an automatic payment plan that will automatically deduct payments from your bank account at set intervals.
If you are having a hard time with finding the money to pay your bills on time, you may want to consider cutting back on your monthly expenses.
Consider going on a beans and rice meal plan.
This will save you a lot of money.
Instead of eating out all the time, purchase a can of beans and rice and make a nice meal.
You can substitute the beans for eggs and make a nice eggs and rice eating plan.
There are so many ways to find money in the weirdest places, and this is just one of them.
Both of these tips for paying your bills off on time and boosting your credit score are very effective for helping you to do so.
Be sure to start implementing these tips today to see changes in your credit score in a short while.
Good luck with improving your credit score and getting the financing that you desire.
I can remember being declined for loan after loan until it finally hit me that I need to do something about my credit score so that I can get the financing that I desire.
If you didn't already know, a good credit score is at the cornerstone of a great lifestyle.
You will need to have a good credit score for all sorts of situations in life.
For example, when there are times that you need emergency money, you can sometimes get it in the form of a loan.
I'm not talking about a payday loan - I'm talking about a loan that you take out from the bank.
This is something that I wished I had at my disposal a few years ago.
If I had a good credit score, I wouldn't have had to go through a lot of the things that I did when I was younger.
For example, I can remember a time when I didn't have the money to pay my rent for the month, so I had to pawn virtually everything in my home just to make ends meet.
And trust me, this wasn't a glorifying time in my life.
You don't want to have to resort to this drastic option.
If I had a good credit score, I could have just went down to my bank and ask for a $1,000 loan.
But I didn't have the score to do so.
Now I can proudly say that I've re-established my credit and I'm able to get financing for things that I previously wasn't privy to.
Your 3-digit FICO or credit score means everything.
It's what lenders will use to make a rational decision about you.
They can't tell if you're a morally good person.
Even if you approach a teller in the bank and inquire about a loan, they will try their best to help you out, but the fact of the matter is that the final decision will come down to how high your credit score is.
You don't want to go around with a low credit score for a number of reasons.
With a low credit score, you may get approved for a loan, but it will be at rates that are high and undesirable.
If your credit score is low, the right time to do something about it is now.
Here are some tips that you can use to improve your credit score today.
1) Don't apply for more cards I understand that you may be strapped for cash and that you're tight on funds, but the last thing that you want to do is start applying for more credit cards.
To many credit inquiries can do harm to your credit score.
Plus, you will more than likely get denied for credit, and these 2 combinations can really affect your credit score.
Instead, try to work with the cards that you do have.
Pay all of those off first and when your score improves, then try to get cards from better companies.
To your benefit, if you really need more money, you should try going to your lenders and seeing if they will give you a credit limit increase.
Nobody will lend you money faster than your current lenders, but you have to prove that you're able to be responsible for your payments.
Here's another tip.
2) Pay your bills on time I believe I mentioned this earlier in this article.
Be sure to pay your bills on time.
Get on an automatic payment plan that will automatically deduct payments from your bank account at set intervals.
If you are having a hard time with finding the money to pay your bills on time, you may want to consider cutting back on your monthly expenses.
Consider going on a beans and rice meal plan.
This will save you a lot of money.
Instead of eating out all the time, purchase a can of beans and rice and make a nice meal.
You can substitute the beans for eggs and make a nice eggs and rice eating plan.
There are so many ways to find money in the weirdest places, and this is just one of them.
Both of these tips for paying your bills off on time and boosting your credit score are very effective for helping you to do so.
Be sure to start implementing these tips today to see changes in your credit score in a short while.
Good luck with improving your credit score and getting the financing that you desire.
