What does your credit score look like? It is a short and concise reference point reflecting what’s really inside your credit report and profile. Have you taken a look at the details lately? How are you doing financially? You could be doing just fine, yet still, need to make changes in regards to improving your credit score over time.
That’s right, it’s definitely going to take time. Don’t believe the credit agencies that say they can doctor your credit report up in no time at all. That’s just now how things work. Yet there are agencies and credit counselors available who do help consumers work on their credit reports and scores. Yet you can do all of this work for yourself, a little at a time when you know what to do.
One thing you want to be sure you do is to pay all of your bills on time. Late payments affect your credit score more than you think they do. Your credit reports reflect your payment history for each account and how you handle your bills. It tells all so to speak. Some companies you apply with are just going to look at certain important details, yet other companies are going to get down to the nitty-gritty for sure.
Think about what a mortgage company would do. Put yourself in their shoes. If you were the mortgage company, would you just look at the score and credit card utilization? No, you would look at all the important details. You would want to know the specifics of each account and how it reflects on the way a consumer handles his or her monthly budget.
That’s what a mortgage underwriter would do, and that’s what other companies would do, too. So what that really means is the best way to improve your credit report and score is to handle your budget wisely. This does include credit card utilization, and the truth is told, the absolute best thing to do is to keep those balances (on two cards) at $0.
If you are into credit card hacks, you might have more than two cards. Now, that doesn’t mean it’s time to start closing accounts. Everyone’s credit profile is different, and you know what to do if you are honest with yourself. Closing accounts can reflect on your score negatively, too.
It’s not time to jump on all the information and start making hasty decisions. It’s time to start working on your budget and your credit report. What does it say about you? Seeing that score go up over time is going to make you feel good.
But for now, it’s time to get to work. There are so many things you can do. Start by working towards becoming debt free. Over time, that simple goal will have really helped you improve your credit score and report overall. If you are ready to get to work, then it’s time to make a difference in your credit report. Check back in a year and see what has happened.