It has been seen that people are more embarrassed about admitting their credit score than revealing their actual weights. While a considerable reduction in your weight might take a significant amount of time, ensuring an improvement in your credit score essentially takes about 30 to 60 days. However in doing so, it is important to initiate necessary actions. Some of the ways to improve your credit score could be listed as:
1. Contest errors in your credit report: Get a free copy of your credit report from the three primary credit reporting bureaus and examine those. Just in case you find any error or faulty entry, make it a point to file a dispute.
2. Conduct parleys and negotiate with the creditors: If you stopped paying your credit card bills subject to unemployment, make sure that you conduct negotiations with the creditors so that they delete the debt from your records. Offer to pay the remaining amount and there are chances that the creditor will record it as ‘paid as agreed’ or better still remove the entry altogether.
3. Find out your credit limit: Ensure that your credit limit is always updated by the credit card company. It shouldn’t reflect lower than what it actually is. At times, the credit card company might forget to update your raised credit limit. Under the given circumstances, remind them.
4. Use your credit card as less as possible: Make sure that the credit utilization ratio for your card is not more than 30 percent. A utilization of 10 percent or less substantially improves your score. Even if you pay your bills on time, you should not come across as someone who is a spendthrift.
5. Increase your credit card limit: Increase your credit card limit as much as possible. However, also make sure that you don’t increase your expenses or again you would be reduced to the same credit usage ratio.
6. Get yourself a credit card if you don’t have one: Get yourself a credit card and don’t use it too often. Make your bill payments on time. In other words, become a responsible credit user. While trying to get yourself a credit card, make an attempt to get a secured credit card. It reports to all the three primary credit reporting bureaus.
7. Try and become an authorized credit card user: Make an overt attempt to convince a relative or a friend to add you to the list of authorized users for his credit card. There would be many cases when you wouldn’t be able to get a credit card yourself. This intelligent ploy works just fine then. Make an arrangement where you write your capacity to spend and the ways you could fulfill your obligations in paying your part of the bill.
8. Never close the account for a credit card: Closing a card looks bad on your credit card report. Try and spend at least something on a recurrent basis using the concerned card.
9. Ensure to pay your bills by the due date: There is no shortcut to this ploy. Make sure that you end up paying all the bills just on time. This significantly enhances your credit score.
10. Get credit repair service: If your score dwindles significantly, get your credit repair done by a credit repair company. Credit repair companies are professionally equipped to handle bad debt and bad credit scores. When the situation is beyond personal control, the best possible way is to let the company deal with all the nuances in a professional way. Go for the best brands while selecting the services of a credit repair company.