3 Safe ways to improve your credit score

It’s time for some spring cleaning! Why not start with your credit score. Here are three safe ways to improve your credit:

1. One of the most important ways to get a credit score ready for spring is to pay down revolving balances. Consumers should strive to get their utilization ratio down as far as they can. They will benefit every time they go to the next lower X9 percent. If a consumer is at 72 percent utilization and they go to 69 percent utilization their score will improve. If a consumer is at 52 and reduces it to 49 they get a pretty decent improvement at that point. If they want to get the very best score possible they should bring their utilization ratio all the ways down to five to nine percent. If they are planning on getting a home or making a purchase in the next few months, five to nine percent is ideal. If that is not possible they should strive to bring it down to the next X9% they are capable of.

2. The most important thing about the first tip is that when consumers pay down the utilization. They must do it before the reporting date. Sometimes the reporting date can be the statement date a lot of people like to call it that. It’s the date that the creditor reports that information to the repository. Normally that is done in the first 10 days of each month but the reporting data can be found by calling up the creditor to ask them when they report. Another way is to watch the online current charges go away that previous day was the reporting date. Paying your balances down to the lowest utilization ratio on the day before the reporting date is key.

3. Review the credit report and see if there is a dormant credit card that is still opened but may not have been used for a while. Like Home Depot or a Jewelry card, try to charge something on that card thereby creating new recent activity and then pay that off before the reporting date. That will reactivate that credit card providing all that good credit history again. When a credit card goes dormant and it’s not being reported currently it has less of an impact on a credit score the more time that goes by. Reactivating that old credit card will not create a new inquiry and in fact, if the creditor tries to pull a new inquiry to reactivate that card do not allow them to do that. If you can just charge something and reactivate it that way it’s a great way to boost an individual credit score it doesn’t cost them anything as long as they pay that down before the reporting dates.

I want to caution consumers about doing anything with collections before they talk to a loan professional, Collections are fraught with peril when consumers try to correct those on their own. Follow those three steps to spring clean your credit score.

If you want more information about how to improve your credit go to get loan ready there are six steps to a better credit score and you can also buy a copy of the new book transform your credit I just rewrote the book it’s available now on Amazon and on the website go to get loan ready on the right-hand side you click on the image of the book and you can order it right there thanks, everybody have a great day so you with a little bit of me we’re going to change the credit industry thank you

3 Safe ways to improve your credit score

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