Thank you Lexington Law Firm for sponsoring this post. A high service partner and consumer advocate that will help you fight for the credit you deserve!
Today I’m talking all about credit scores, which is personally a very important topic. I know I don’t mention finances on here a lot, but I’m breaking it all down for you and sharing 6 tips for building up your credit score. It is something that takes time, but can easily get better with small tweaks in your day-to-day lifestyle. Now is the perfect time to get your finances in order so you can start off 2021 on the right foot. One way I was able to do this is with the help of Lexington Law Firm.
Lexington Law Firm is a trusted leader in the credit repair industry and has worked extensively on credit repair since 2004. They will help leverage every legal standard to help you repair your credit and can help you work to remove inaccurate or unfair negative items listed on your credit report and take you closer to achieving your financial goals.
When it comes to credit scores, higher scores are obviously always better. Improving one’s credit score may take a little bit of time, but don’t worry because it can be done. Having a good credit score not only helps your family, but also your future. I currently have a credit score in the low 800s, which is rated as excellent, and it is something I’ve worked hard on daily for a large part of my life. These easy lifestyle changes can do wonders for your credit score and help build the life you want for yourself and for your family. Today I’m sharing 6 tips that can help you raise yours as well!
6 TIPS FOR BUILDING UP YOUR CREDIT SCORE:
1. FIRST UNDERSTAND WHAT A CREDIT SCORE IS
A lot of people don’t totally know what a credit score is, so today I am going to tell you. Your credit score is a number with a range anywhere between 300 to 850. The number helps lenders evaluate how much of a risk it is to lend you money and therefore how responsible you are with your finances. The score is largely based on your outstanding credit, payment history, and public records. The higher your score, the more likely you are to be qualified for a new credit card or loan.
2. ALWAYS PAY YOUR BILLS ON TIME
To me this is a no brainer and one of the most important factors when it comes to determining your credit score. It may sound simple, but lenders want to be sure you are paying your bills, and a payment that is even a few days late can damage your score. This includes not only credit card bills, but also cell phone bills, electrical bills, and rent. While a late payment or derogatory mark from a creditor may seem harmless, it can have long-standing consequences and in some instances stay on your report for seven years.
A great way to stay on top of things is to keep an electronic calendar that is linked to both your computer and phone. Always mark when a bill is due (I always like to add it in 2 days earlier than the due date) so that you can make sure you pay everything on time.
3. MAKE SURE TO KEEP YOUR BALANCES LOW
Not only should you pay your bills on time, but you should also always pay your bill in FULL. This is actually something my dad always taught me. This might be hard for some people, but try your best to pay as much as you can. Just because you have a high credit limit, doesn’t mean you need to keep your balance up to that limit.
4. DON’T APPLY FOR MORE CREDIT CARDS THAN YOU NEED
Try to keep your credit cards down to a minimum. Applying for lots of cards doesn’t always boost your score like some might think. This could cause you to be tempted to use all of them and in the long run spend more money. In addition, every time you apply for a credit card, there is an inquiry on your credit report, and that may raise a warning flag to potential lenders.
5. ALWAYS KEEP AN EYE ON YOUR CREDIT REPORT
It is important to frequently check your credit score and reports. That is how your credit score is established. There are 3 national credit report bureaus: Experian, TransUnion, and Equifax. You are entitled to a free credit report from each of them every year. Lexington Law has long-standing relationships with all three of these credit bureaus. They have a deep understanding of how getting errors removed works, enabling their team to communicate more routinely and efficiently for their clients.
I am also able to keep track of my own credit score through my bank. It is important to check your credit to make sure it is accurate, and If you see something that is incorrect, make sure to take care of it ASAP.
6. GET HELP FROM THE PROFESSIONALS
Credit errors can easily impact your score, and every year millions of Americans are denied loans for homes and cars due to errors on their credit reports. On average, these errors can take four months to correct.
When clients work with Lexington Law, they are working with professionals that have a deep knowledge of consumer protection laws and know how to leverage them for the consumer’s benefit. Lexington Law gives clients a foundation of trust and offers peace of mind knowing legal professionals are going to fight for your rights.
The credit repair industry has grown in recent years, resulting in a lot of information out there, both fact and fiction. Clients need to be educated that errors can be and need to be fixed. Lexington Law Firm can always help! They believe you have a right to a fair, accurate, and substantiated credit report. They can navigate the credit repair process by harnessing the power of knowledge and the law to fight for their clients’ rights to good credit.
So there you have it! 6 tips to help get your finances on the right track for 2021 and to raise your credit score. I hope today’s post was helpful, and let me know if you have any questions in the comments below.