Credit score repair done right can raise your ability to approve for loans. Taking the right steps from the start works in your favor and speeds up the process. Credit repair takes time and a show of consistency, longevity and good paying history. Start by making your payments on time, without any payments past due on your account. A show of a good pattern of paying without any past dues will get you started on the right path. It’s a must to pay any delinquencies on your credit report.
Paying slightly over the minimum payment you may think adjusts your interest payment in your favor but because your payment is applied to the oldest transactions this is not necessary. Never pay off credit card balances, this can do damage to your credit score.
Credit Score Damage from Closing Accounts
Closing your accounts can have a damaging affect on your credit rating. It does not help or restore your credit to pay-off your card balances. Rather than paying off balances try to pay a little more than the minimum amount each month to show consistency, longevity and stability. Most importantly check carefully payments have been missed and make it a priority to pay off delinquencies.
Credit Score Increase With More Than One Type of Credit.
A mix of different credit types is not good or bad. One or two different types of credit can’t hurt as long as you use them consistently. Try not to open new accounts and let them lay dormant without using them. That can be used against your credit score.
Credit Score Reports May Have Wrong Information
Check your accounts to substantiate transactions match the information that appears on your credit report to be sure entries added are valid. Take advantage of the many ways to check your credit these days without it pinging your credit in a negative way.
Dispute Credit Score Items and Have them Removed
Dispute items you believe should not appear on your report. You will receive a respond within a certain time frame from the bureau and unwarranted entries may be removed or more proof of payment is needed to correct it. Keep after the credit report to cleanse your report until you are satisfied your report is accurate.