Repairing your credit history can take a great deal of time and there is no fast way to fix it. The best way to fix a poor credit score is to administer it dutifully over time.
Invest in a credit card
Although it may seem like a strange idea, investing in a credit card can actually help you to improve your credit score. However, in order to do this, you must be willing to pay it off in full each and every month.
One way to remember to do this is to set up a monthly direct debit payment.
Check your credit report
A credit score will typically begin with a credit report. Such a report is free and by requesting one, you’ll be able to learn of your past errors. Such errors may include later payments and forgotten accounts. Knowing where you’ve gone wrong in the past can help you to correct these errors in the future.
Set up payment reminders
Those with busy working and home lives will often forget to pay their bills, quite simply because they have too much going on in their lives. Setting up a payment reminder for every account you have is a great idea and also, a good way to improve your credit score.
By paying off every bill on time, you’ll be able to mend a poor credit rating.
Open a new account
Opening a new account and paying it off responsibly each month will show any future lenders that you are reliable when it comes to paying off debts and bills. This will help you to achieve the likes of an unsecured personal car loan, set up a phone contract or invest in a store card in the future.
Don’t simply close your accounts
Closing accounts you already have won’t make them go away and the only way to improve your credit score is to begin paying off these accounts surely and conscientiously. By doing so, you will slowly start to see your credit ratings rise.