4 Quick Steps That Can Help Turn Around a Poor Credit Score

This is a sponsored post by CreditRepair.com. All opinions are 100% our own. 

Credit is one of those things that we don’t really think about, until it comes to a time when we need good credit, such as when we are buying a house or a new car, and need a mortgage or loan for them.

If you’ve recently looked at your credit score with wide eyes and started to panic, don’t worry – there are some simple steps that you can take to fix your poor credit quickly.

We will look at some simple steps that you can take to fix your credit today.


4 Simple Steps to Fix Poor Credit Quickly

1) Get Organized

The first step when it comes to managing your money is to get as organized as possible. This can involve creating a budget and looking at your credit report.

Before you start trying to fix your poor credit, you need to find out exactly where you stand so that you can make a plan.

The best way to do that is to get a copy of your credit score and report. You can then go through this to see what your credit score is and figure out if there is anything that you can improve on.


2) Consolidate Your Debt

An option when you have a lot of debt to pay off in various places is to take out a loan so that you can put all of the debts into one place.

The loan must be big enough to pay off all of the smaller debts and create one loan with one monthly payment – making it much easier to deal with.

You will need to check if debt consolidation is the right route for you to take, as you will need to make sure that you are able to make the monthly repayments and continue to do so if something happened like losing your job.

Search around for the best deal and make sure that you read the small print – you will need to make sure that you can make the monthly payments, and see if you will be able to continue doing so if the payments are due to increase after a certain amount of time.

Apply for the loan if you are happy with the terms and you think you will get accepted (they will look at your credit report). It is important that you think hard about whether you will get accepted or not as you don’t want to have that on your file.


3) Continue to Use Your Credit Cards Wisely

This doesn’t mean continuing to use them as you have been, if you have bad credit, but to continue using them in a way that will benefit you.

A good thing to keep an eye on is your credit card utilization rate – which is the ratio of the balance that you have on your credit and your credit limit.

A good ratio for credit card utilization to aim for is around 30%.

If you need to use your credit cards, then you can continue to do so as long as the percentage is low. But ideally, you will want to be paying more than the minimum payments to your debt.


4) Dispute Wrong Information and Errors

One of the best things about getting a credit report is being able to see any errors that are on it and contesting them.

Whenever anyone says to me that they don’t check their credit report because they haven’t got anything to worry about, I always advise them that you can see if there has been any fraudulent activity against your name.

Make sure that you check your credit report regularly, and if there are any errors then you can contact them and raise a dispute.

The earlier that you are able to do this the better, but if you have only just noticed errors on there you can still contest these, and this will improve your credit score.


Thoughts on Fixing Poor Credit

Do you have a poor credit score that you’d like to improve so that you put yourself in a better position for doing things such as applying for a mortgage on your dream home?

If you’re short on time and not sure where to start, you can sign up to CreditRepair.com who will do all of the difficult stuff for you.

They will look at your credit report and see what can be fixed and the improvements that they can make. They will speak to the credit companies on your behalf and ask them to correct any errors that are on there.


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