Improving Credit Score

"How to Budget Your Money and Build Your Credit Score"

People with poor credit hinder themselves from improving their credit score by not monitoring it and not budgeting their money. A good credit score can make it easier to get what you want and save money at the same time. It is important to know how your credit looks. It is important to know how to take care of it also. To begin the process of building your credit, you will need a budget, a planner, and patience.
Your budget plan is an important task in your life because it will prevent you from over spending unnecessary money or forgetting to make on-time payments. Paying your debts by budgeting your money is the firsts step to building your bad credit. You need to know how much money …show more content…
You need credit to buy a home, a car, get a loan, your dream job, and the list continues. The first step to building your credit score is to know your credit report. Second, figure out what is accurate and what is not. If you see errors, have them disputed. If you have delinquencies, seven years or older, dispute them as well. Third, for anything that is accurate, find the number to the creditor and ask them for a payment plan. Ask the creditor whether the account on your credit report will be removed, settled in-full, paid in-full, or state zero balance upon completion of payments. Also, ask for a receipt for each payment made. Forth, write the amounts you will be paying for each account under bills on your budget plan. Fifth, pay your creditors on-time each month. Late payments will hurt your credit. After you pay off your credit cards or accounts, do not request to have them closed. It is ok to have a zero balance on a account. Also, try to pay more than the negotiated amount, even if its just five dollars more. A great way to build your credit, while paying your debts, is to open a new credit line. A secured credit card is a good option. For those that do not have any credit, this is a great option for you as well. Remember to pay your credit card on-time each month and pay the maximum amount. Try not to use more than 15 to 30 percent of your credit limit each month. You should use department store cards like Macy's or Walmart, at least twice a year. If you don't, they may close them, which can lower your credit score. Another tip is to stay away from hard inquiries. Do not apply for more than one new line of credit at the same time or have your credit checked multiple times in a small time period. By following these five steps and helpful tips, you should see an improvement in your score over time. Be patient! It takes time and even years, but you will see an

Show More

Bad Credit Rating

Obtaining Personal Loan

Why Congress Should Not Reauthorize the No Child Left Behind Act Essay

Golf Instruction Research Paper

Student Debt Crisis

Risk Assessment In Pressure

Self Assessment

History Of EWF Index

Advance Medical Tech. Corp. Case Study Essay examples

Exercise and Physical Activity Essay