The credit score is used by lenders to know if it is safe to conduct business with a person. Good credit enables a person to qualify for loans much easier and obtain credit cards with reasonable interest rates, saving a person time and money in many ways.
Check credit reports to know where you are at in the meter. Request for a report from one of the three reporting agencies to review the information posted. If there are any errors, dispute them. Immediately notify the agency of false information to improve the score. Finance experts at Brennan & Clark recommend setting up payment reminders to be diligent in paying bills on time. Being consistent in making payments on time raises one’s credit score.
If possible, pay twice in a single billing cycle. Instead of paying for bills once a month, pay them every two weeks to reduce the credit utilization, improving the credit score. Prioritize maxed out accounts. Pay credit cards with amounts owed close to the limit to pull down credit utilization rates.
Collections agency Brennan & Clark says having more than two credit cards can be a struggle to maintain. Avoid applying for new cards too often. A hard inquiry—which can temporarily lower one’s credit score—is recorded on a person’s credit report when a new line of credit is applied. It can remain on the credit report for two years and can affect the credit score for the initial year.
Brennan & Clark is a business collections firm that forms strategic alliances with its clients. The firm aids businesses eliminate credit losses by analyzing and improving on the elements of the collection process to make it more efficient. Click here for similar reads.
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If possible, pay twice in a single billing cycle. Instead of paying for bills once a month, pay them every two weeks to reduce the credit utilization, improving the credit score. Prioritize maxed out accounts. Pay credit cards with amounts owed close to the limit to pull down credit utilization rates.
Collections agency Brennan & Clark says having more than two credit cards can be a struggle to maintain. Avoid applying for new cards too often. A hard inquiry—which can temporarily lower one’s credit score—is recorded on a person’s credit report when a new line of credit is applied. It can remain on the credit report for two years and can affect the credit score for the initial year.
Brennan & Clark is a business collections firm that forms strategic alliances with its clients. The firm aids businesses eliminate credit losses by analyzing and improving on the elements of the collection process to make it more efficient. Click here for similar reads.
