There are a lot of us out there that just need to boost our credit scores up by maybe 10-20 points. Here are some simple ways to give your score a boost!
1. Check your credit scores with all 3 bureaus, make sure to look at it thoroughly and see if all is correct. If you see any discrepencies deal with them immediately. Call the bureaus and take the steps to getting the false information removed.
2. If you have a 30 day late and have never had any lates before, call and ask if you can get it removed from your record. They may not always do this, but it is always worth asking because sometime they do!
3. Pay off any collection accounts, but most important when paying them off, you need to ask for a letter clearing the debt and removing from your credit. Don’t pay until you get the letter, OR if they won’t give you the letter until you pay make an arrangement to receive immediately after along with paid receipt. You don’t want a collection sitting on your credit report stating “dispute” or “settled” you want it off your report!
4. Pay your credit card debt down, you don’t want to be any higher than 30% of max limit. (ex: $1000 limit, max on card should be $300). You never want to be maxed out. And don’t just pay off cards and close them. You can pay off but keep them open.
5. If you don’t have any credit then you need to get some. Best way is to get a secured credit card. This is where you put a deposit on your card which in turn is what your limit will be. And make sure to use the card, best and ideal use would be to pay off at end of every month.
Now I am not a financial advisor but in workin with credit we have seen what works and what doesn’t. Make sure to check out www.creditscore.com they have good tips in helping your credit. As well as www.money.msn.com.
If you have any questions please call or email me and if you would like to complete a secure online application please click here.
Thanks,
Ray Williams
Branch Manager
Summit Home Mortgage
303-779-0591 ext. 101
