Credit Hacks

Credit Hacks

Have you ever heard the quote , “it takes 20 years to build a reputation but only 5 minutes to ruin it ?” Well the same goes for your credit. It is extremely easy to lose points from your credit score, but it takes a while, to build it back. But knowing how credit scoring works can help tremendously when manuevring the process to rehabilitate your numbers faster. Listed are two effective strategies to help you do just that.

  • DISPUTE OLD, SMALL COLLECTION ACCOUNTS

There may be mistakes in the credit or loan amounts, or errors in a payment you made on time that may display as late. There could also be negative information listed for longer than it’s maximum amount of years.

  • PAY YOUR CREDIT CARDS TWICE EACH MONTH

Paying the balance on your credit every month seems like a good idea however it could actually be hurting your credit score. You can lessen the damage by paying your credit card more than once each month. you should pay it once before the reporting period and once before the end of the month. This way you are lessening the balance amount being reported to the credit bureaus. Which in turn could help raise your score. Remember : keep your balances below 30%

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