Don't come up short for Christmas. Where there is a will, there is a way. Fix your credit now!
With the Holidays approaching, making sure your credit is up to par is important for you and your family. Fortunately, it's not too late to improve your credit score before Christmas.
Assess Your Credit DamageBefore you can fix your credit, you need to know where you stand. Your credit rating and credit score are based on the information in the credit reports maintained by three major credit rating services: Experian, TransUnion and Equifax. You can get a free copy of your report every year from each rating service through the Federal Trade Commission’s authorized provider, AnnualCreditReport.com.
Once you have your report, check your credit report for incorrect listings like late payments and how much you owe. If you find errors or entries that look suspicious, such as an account you don’t recognize, contact the credit rating service. The rating service will investigate and if the error is legitamite, correct your credit report. A notable credit repair agency like creditrepair.com can help facilitate the process.
The process isn't easy and can take time and many tries but can be done. It is worth doing as up to 43% of the population has errors on their reports. Correcting these errors can give you a quick boost to your credit rating.
Make Your Credit Payments on TimeThe thing that counts most in determining your credit rating is how many late payments you have. Payment history counts for 35 percent of your credit score. Payments more than 30 days late are especially damaging. To repair your credit, there is no substitute for catching up on your bills and staying caught up. If you run into trouble, contact your creditors. Many lenders will not report an occasional delinquency if you talk to them and make a promise to pay.
Another major part of your credit rating is the amount and type of debt you owe. Paying down debt is a big challenge for many people, but it is essential if you want to repair your credit. The place to start is with credit cards. Stop using them entirely if you can. If you must use a credit card, make it the one with the lowest interest rate. Add as much extra money as you can to the monthly payment for the highest interest card. Pay the minimum on the others. Once the highest interest card is paid off, start putting as much as possible each month on the card with the next highest rate.
Pay Off Your Credit Debt
Related: Methods to Repair Your Credit