Tumblertown

Sometimes in life we have bad situations that require patience and effort in order to improve them. Dealing with a low credit score is one of them, and fixing this type of problem takes work – it takes a solid financial plan of payment consistency at the very least. Gaining points on the score is sort of like trying to lose weight, for example, because there are many methods but no matter what path is taken, it takes time and determination. Everyone knows that the weight is not just going to fall off because you want it to; a credit score will not climb if nothing is done to make it.

First and foremost, all bills should be paid on time every single month. This simple act establishes a good track record and with every month that goes by, the credit score will benefit. Even one day makes a difference if the payments are late, and just because you may have forgotten about or ignored a bill doesn’t mean the creditor has! With the economy the way it is these days, they are staying on top of the customers that don’t pay on time. Once a bill has gone 30 days delinquent, it can show up on the credit report and stay there for 7 years.

In regards to credit cards, it’s a good idea to stay away from the ones that are easy to get. They normally have a high interest rate and it can be very easy to fall behind and pay off the balance for decades. The balance on any credit cards should be kept at or below 30% of the limit, but for an excellent credit score, it should stay around 7% or less. It’s a good idea to pay off what’s owed every cycle. Other loans should have a balance of $1000 or less. If these easy rules are followed regularly, over time you can erase bad credit history without any problem at all.