Which Of The Following Most Influences Your Credit Score?

Among the different factors that most influences your credit score, payment history accounts for about one third of your credit score.

How Can I Improve My Payment History?

Pay your bills on time. This is one of the most significant ways you can improve your credit. Plus, you can start building good credit right away by paying this month’s bills on time.
A one-time late payment will not damage your credit score much, but multiple late payments will.
Make a plan and budget appropriately so you have the funds in order to pay them before the due date. The best way is to set aside the monthly amount you have to repay for the next 2 or 3 months. For example, if your monthly payment is $250, have $500 to $750 on your bank account.

What Else Can I Do To Improve My Credit Score?

Obtain your credit reports. You’re entitled to a free copy of each credit report once per year. You can obtain them through each of the credit bureaus individually or through their official website, annualcreditreport.com. Your credit reports offer a lengthy explanation of what is impacting your credit score so that you can make the necessary changes.
Your credit report will give you the information you need on each account you owe on, including who you owe, how much you owe, and a snapshot of your payment history. Past credit accounts may also be included.
Obtain your credit scores. Your credit scores are numerical values placed on your credit history and can range between 350 and 850. Each credit bureau can have a unique score, but they’re combined to create a single FICO credit score. Obtain your credit score at least every six months to keep track of how it changes over time.
Obtaining your credit scores typically costs money, but can be done through each credit bureau individually.
Create a plan. Once you know what you’re up against, create a plan to help you deal with each record on your credit report. Address each record individually and develop a plan for repayment or dispute depending on the legitimacy of the debt.
Dispute incorrect information. If there are incorrect records in your credit report, dispute them. Dispute each one individually through the credit bureau or contact the creditor for more information on the debt. If the information really is wrong, the credit bureau will make the necessary changes or removals. However, disputing the negative and erroneous items on your credit reports can take a lot of time if you do it on your own. See how you can speed up the process by weeks or even months!

Back To Credit Repair Posts

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Improving your credit score from 610 to 720 can help you save $100 to $400 per month, depending on your amount of debt.


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