Improve Your Credit Score

Your credit score is one of the most important things to consider when it comes time to start looking at buying a home. When it comes to improving upon your credit score it is also important to understand that it takes time, and there is no "quick fix" to be had. The best way to properly repair your credit score is by managing it responsibly over a longer period of time, as most quick fix efforts are likely to backfire. That being said there are three main things you can do this very moment to start on the path to rebuilding your credit score from the ground up. 

First, you will want to check your credit report. This is the first step and is fairly easy to do. Simply go online to any of the free credit score checkers online and request your credit score. The credit score contains all of the various data that is later used to calculate your cumulative credit score. You will want to check and make sure that there are no misfiled payments that incorrectly read "late", and if you do find any you will need to contest them with the credit bureau immediately. 

Secondly, you will want to setup a system of payment reminders, whether this be on your phone calendar, through your bank, or simply written down somewhere. Another reminder system that can be used is by starting automatic payments through your credit card company. The flaw with this aforementioned system is that it will only make the minimum payment on your credit cards. 

Finally, you should try your hardest to lower the total debt that you owe. While this may seem rather abstract, the first step in moving towards carrying less debt is to closely monitor how much you use your credit cards and try to slowly eliminate your credit card usage. While doing this you will want to make a payment plan to pay off all of your current debts that you owe (this can be found on your credit report). When paying off these debts on various credit cards you will want to be sure to pay off the cards with the highest interest rates as they will cost you more money over time than similar cards with lower interest rates. 

When using these three techniques effectively you will slowly, but surely, begin to see your credit score rise towards a more desirable number!

If you are interested in buying or selling a home, please contact us or give us a call at 704-232-7238. We would love to hear your comments, please share them below.