Your Credit Scores – 7 Simple Actions You Can Take To Improve Your Credit Scores Quickly
I’m sure that you know your mortgage payments are effected by the interest rate you qualify for and that the interest rate depends on your credit scores. But did you know that your auto insurance premiums and getting a good paying job depend, at least in part, on you having good credit?
Clearly, if your credit is not good, you need to improve it. Here are 7 things you can do to raise your credit scores. They work pretty fast.
1. Don’t apply for credit anymore. Each time you do, you score a negative point against yourself.
2. Reduce the amount of balances you carry. Pay off credit cards, if possible. (But don’t close them. The bigger the difference between your limit and your balances, the better).
3. Consolidate student loans. Every time you consolidate loans, your minimum monthly payments go down a bit. Besides, student loans can be closed. Closing them through consolidation shows them as having been paid off. Paying off loans is good.
4. Consolidate as many other loans as you can. Same rationale as for student loans.
5. Correct credit reports errors and mistakes. Even if you don’t have someone else’s loans showing up on your credit reports, you can still have mistakes that cost. Most would be loans you paid off a long time ago showing as active or behind.
6. Close accounts you don’t use that are not credit cards (unless you have so much unused credit it will not make much of a difference if you closed some cards).
7. Consolidate your loans into a fixed rate loan. Not only do you get the benefits of consolidating, you also get certainty. Certainty that your minimum payments won’t get higher.
There are other methods of increasing your credit socres and lowering your home inusrance premiums, your car insurance premiums, your mortgage payments. But they are more involved and/or take longer to implment. Below is a simple to implement method that does, however take time. (Other methods not only take time but they take an expert in your corner.)
Here’s an eight method. It’s slow and works whether the information the credit bureaus report is accurate or not. Let time pass. Well, let time pass and don’t make more credit mistakes. It’s just too expensive to have bad credit. So use the above seven ways and raise your credit socres. Start now.
Did you know that not all insurers look at your credit scores? That independent insurance agents are far more likely to find you an insurance plan from one of these insurers? So, the next time you find yourself Googling ‘homeowners insurance Chicago‘ or ‘car insurance Chicago‘ or some other such phrase, look for an independent insurance agency.
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