How to Quickly Improve your Credit Score
If you want to buy a car, get an apartment or just take out a loan then your credit score needs to be in good order. It generally takes 7 years before any negative information is removed from your credit score, but there are a few ways that you are quickly able to raise your credit score .
Pay off Your Credit Card Balance
One of the factors that influence your credit score is how you use your credit. A major factor is your credit utilization ratio, which compares your overall credit limit with the amount of credit that you are using. Credit card experts say that this should be below 30% or if you can 0 as this will help to raise your credit score.
Even if you are able to pay off a little of your credit card balance will help if you are not able to pay it all off.
A New Credit Card
Taking more credit may seem like the opposite of what you want to do, but adding to your overall credit limit will raise your credit utilization ratio.
A new credit card will then increase your total credit limit and will then lower your credit utilization ratio. The more credit that you are approved for then the more trustworthy you seem to lenders.
If you have a balance on your credit cards then you are able to transfer your balance to a new balance transfer credit card, which will then increase your credit limit and you can pay down your balance.
Fix Credit Report Errors
If you find that there are errors on your credit report then you should fix them so your credit score is raised. These errors can include credit lenders reporting false late payments, accounts that were reported as going to collections even though you have paid and even accounts that
have been opened in your name but you didn’t know.
You will then need to get a copy of your credit report and go through it.
Simple Tricks to Spend Less
Simple Tricks to Spend Less
If you are looking for ways to save money then have a look at how you are able to spend less with these simple ways.
Think about It
You need to give serious thought to every purchase that you make. You should try and not feel pressured or rushed into making a purchase as you will spend more recklessly. Before you buy anything consider if you really need it and how it will affect your finances.
Check your Finances
You need to look at your budget and see if it is fine the way it is. You will always carry on paying what you need to unless there is a reason to change it. Any change should be factored in.
Saving Money is Relative
When it comes to making comparisons about money we are not very good. We will easily add on extra when it is an expensive purchase, but we would think longer about spending money on an item that you would use all the time. We need to look at where the money goes and the best way it should be spent.
We need to be in habits of automatically paying bills on time; to avoid any late fees and also it should become automated to put money away into a savings account.
Instead of looking where you can save a little on numerous expenses choose two major ones and cut down on these. For instance how much do you spend on takeaways, eating out and drinking? Cut this down and you will be able to save quite a bit.
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