9 Year Mortgage Advice on Credit Card Repair
In cultivating your credit score flawlessly I’m sure you’re the type of person who pays on time, and never leaves an outstanding balance, am I right? In your mind you’re golden! …Or are you. This may come as a surprise but these are not the key components to a superb credit score. Many consumers like you are unaware of what makes their credit scores move up and down.
Obviously you understand that the money that you spend and pay off per month in relation to your available credit effects your score but what you may not have realized is that they calculate your score from your total on your statement date and not the due date. You could have a balance that you don’t even know about which in turn hurts your credit, all the while you are unaware.
Here’s a little advice from 9 Year Mortgage on how to revamp your credit scores to what you want them to be while avoiding making those small decisions that can hurt big time.
Be ahead of the game!
- Paying your bills before they are due can be a helpful hint to follow, by doing so you can raise your credit score by lowering your utilization rate. Paying early can also give you the upper hand by allowing you to become aware of any outstanding balances before your statement date. If you have been perfect on your payments but your score still isn’t rising it may be your utilization ratio that’s bringing you down. Paying ahead of time can make a huge difference. This may not work in every situation but it’s worth a try! Work with your lenders and find out when your report date is and see how you can get ahead of the game.
Two (or a few) is better than one
- 9 Year Mortgage suggests discussing multiple monthly payments with your lenders. Paying once a month may seem more convenient but making multiple payments can reduce the amount of credit that you are using throughout your days, weeks and months. A good motto when viewing your credit reports are definitely the lower the balance the better. When deciding to do this you will want to make sure that your credit card company is equipped to receive your payments throughout the month and that you are not exceeding a limit.
- You have been a loyal customer for years, paying on time (even early) and nipping your balance in the bud. BUT, this month you ran into a little unexpected financial emergency that left a small mark on your credit. Don’t panic, there is a way to regain your perfect track record. Get in contact with your lender and inquire about a “goodwill deletion”. You may be able to get your blemish expunged as a reflection of your otherwise flawless record. Essentially you’re asking the creditor to take it easy on you. This could affect your credit score and bring it back up to where you want it to be. Keep in mind that this does not work if you are consistently late.
Now that you have read these tips 9 Year Mortgage encourages you to put them into effect! Get that credit score up! Enjoy peace of mind knowing that your credit score is right where you want, and need it to be.
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