Get a Better Credit Score in 2017

January 22nd, 2018 | Author:

[I]f you have a goal to improve your credit score for the new year, you need to set up steps to help you achieve this goal. For many, they read all kinds of information about how to get a good credit score, and it can be overwhelming. Sometimes, it can sound so easy but not work. Other times, it can seem like it will never happen. Here are some steps to take to ensure you have better credit for the new year.

Pay Your Bills on Time

If you have a history of late payments 30 days or longer past due, this is the place to start working on your credit score. Begin paying all of your current bills on time. If you only do this one thing, you’ll see an improvement in your credit score by the end of the year.

Pay Down Your Balances

Another area where you can make big improvements is by paying down your balances if you’ve maxed out your credit cards. Even if you can only pay down half of each card, you’ll see a major jump in your credit score as long as no new negative information is added to your credit report.

Pay Off Collections

Even one collections account will hurt your credit. If you have outstanding accounts with unpaid balances, you should work on getting them paid off. It’s best to pay them in full. However, it this isn’t possible, try to negotiate an amount the creditor will accept. An account marked as settled for less than the full amount is still better than one unpaid.

Add New Credit

If you’ve worked on the other areas, you need to begin adding new credit to your report. A secured credit card is one option which will help you build good credit. It will take a few months of using this card and paying it off to see a difference, but it will make an impact.

Newest Answers

What You Need to Know about Credit Card Security

February 23rd, 2018 | Author:

[M]illions of people use credit cards every year. They hand it over to pay for purchases or go online with a card number to buy what they want. They seldom stop to think about security and how credit cards differ in protecting your identity and money. How to Protect Your Identity Make sure you sign […]

Continue Reading »

What Self-Employed People Need to Know about Buying a Home

February 19th, 2018 | Author:

[A]ll people are not created equal, at least not when getting a mortgage. A person at a traditional job will generally have an easier time getting approved for a home loan than someone who is self-employed. What many who have taken the leap to being independent contractors, freelancers or self-employed don’t know is that getting […]

Continue Reading »

How to Pick a Credit Card

February 14th, 2018 | Author:

[T]here are so many credit card offers available today, it can be difficult to select the best one for yourself. You may get overwhelmed at the offers that come in the mail or your email. You only want one or a few cards, so you don’t want to pick the wrong one. Here are some […]

Continue Reading »

How to Build an Emergency Fund

February 7th, 2018 | Author:
h

[W]hen you’re struggling to pay bills, it can seem impossible to get ahead. Even if you have made it your goal to start saving money or open a savings account, it may seem unachievable if you can barely make ends meet. However, it is essential to create an emergency fund even when it seems like […]

Continue Reading »

First Lessons to Teach Kids about Credit

February 5th, 2018 | Author:
h

[Y]ou hear all of the time about teaching lessons to kids on money, but not as much specifically on credit. However, credit is just as much a fact of life in today’s society as other financial tools, and kids should start learning early about it. What Credit Is The first lesson for kids is to […]

Continue Reading »

Credit Terms You Should Know

February 2nd, 2018 | Author:

[W]hen reading about credit or even viewing your credit report, you may stumble upon some terms you’re not familiar with. It’s important to understand these terms, so you can get a complete picture of your credit health. FICO score – this is a credit score that is used by all three national credit reporting agencies. […]

Continue Reading »

3 Budgeting Apps to Help You Stay on Target

January 31st, 2018 | Author:

[I]t takes time to organize and track your budget. Most people don’t have that much time to sit at home in front of the computer or a budgeting book. Thanks to the numerous budgeting apps available, you can work on your budget from anywhere. Here are three to consider. Mint One of the most popular […]

Continue Reading »