Tips to Improve Your Credit Score:

  • Run your free credit report at annualcreditreport.com; Review it for:

    • Accuracy-social security number, birth date, full name

    • Accounts that aren't yours

    • Accounts with the wrong account date or credit limit listed

    • Names and Social Security numbers that aren't yours

    • Addresses where you've never lived

    • Negative information, like late payments, older than seven years. (Late payments can only legally stay on your credit report for seven years.)

  • Monitor your credit monthly; make sure your credit report is correct and dispute inaccuracies

  • Pay your bills on time - set up automatic payments to avoid late payments in the future

  • If you have a late payment, work with the company to see if they can forgive that late payment

  • Maintain three revolving credit cards – it is the magic number for the lender’s algorithm

  • Use your credit, having a $0 balance does not show you are responsible with credit

  • Charge-offs and Collections - you can negotiate with the agencies, try for at least 25% off of the amount and make sure you get a letter stating the debt is paid

  • If you have a relative who has good credit, become an authorized user on their account.

 

For more great tips, contact Lisa at 719-237-5768!

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