The DIY Guide to Fixing Your Bad Credit
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The DIY Guide to Fixing Your Bad Credit

Find yourself with a not so great credit score? We have the answer on how to fix that score yourself! If you haven’t already, get your credit report. We recommend checking your credit report once a year from all three major credit bureaus: Experian, TransUnion, and Equifax. Knowing where you stand is important. Your score can range from 300 to 850; a score of 740 or above is an excellent score. If you find yourself in a bad credit situation – don’t get flustered – you can fix your score.

  • Looking at your report allows you to watch for any identity theft and also any errors because they do happen. Verify your information (name, social security number, address, etc.) and review your credit cards and outstanding debts. Highlight any errors and collect information that backs you up such as account statements. Write a letter to the specific credit reporting agency letting them know about the error. Make sure you keep a copy for your records.
  • Stop hurting your score and pay your bills on time! One-time payments are important to your score. Many companies allow you to automate your payments. This makes it very easy and convenient because you no longer have to remember to pay at the different times throughout the month for each bill. Just make sure you have the necessary funds in your account.
  • Pay down your debt, especially credit card debt. It is best to have a balance on your card around 30% or lower and applying for a new credit card isn’t the solution. Even if a store offers you a discount for applying, when you apply it puts a hard inquiry on your credit report. This won’t help you when you are trying to raise your score.

It may take some time to get to the score you’re after but be patient because your good score is worth the wait. Building a solid credit history and maintaining a high credit score will have a dramatic impact on your quality of life now and in the future. It not only helps you get approved but will also get you a better rate therefore saving you money!

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