I’ve spent hundreds of hours learning the ins and outs of a credit score.
Literally, hundreds of hours!
Needless to say, I’ve learned some tips and tricks along the way.
Here’s a quick and simple beginner’s guide to start improving your credit score today (just 5 simple steps to get started):
STEP 1: Get your Free Credit Report & Score
Before you start, you need your CURRENT Credit Report & Credit Score.
Here’s a trick to get them both 100% FREE:
- Go to FreeCreditReport.com to get your FREE Credit Report.
- Go to Credit Sesame to get your FREE Credit Score.
Both are 100% FREE and work GREAT together.
They also both update on a monthly basis, so you get a fresh credit report and credit score every month.
It’s extremely important to check & monitor your credit regularly, to help you detect any errors or signs of ID theft.
Which brings us to the next step…
STEP 2: Check For Errors
This is when FreeCreditReport.com comes into play.
Unfortunately there’s no automated way to do this.
You will need to thoroughly check your credit report to make sure that everything has been reported correctly.
Credit reporting errors are more common than you may think!
If there are any errors (such as erroneous late payments, balance errors, etc.) you will need to dispute these errors immediately.
Certain errors can drag down your score big time. Disputing those errors can reverse the damage done to your credit score.
STEP 3: Learn What’s Affecting Your Score
This is when Credit Sesame comes into play.
Credit Sesame will provide specific information about what is affecting your credit score the most.
Use these tips to learn what is affecting your score the most and the easiest and quickest ways to solve the problem.
Doing this will go a long way in helping you with the next step:
STEP 4: Develop an “Action Plan”
Once you have figured out what’s affecting your credit score the most – you will have tools you need to come up with an “Action Plan”.
This Action Plan could be as simple as disputing errors on your credit report, or applying for a new credit card to decrease your utilization rate.
Or it could be to pay off your collections or current credit card debt.
Your “Action Plan” will vary depending on your specific situation.
Spend some time on this one – it’s a vital step!
STEP 5: Execute Your “Action Plan”
Once you’ve developed an “Action Plan”, it’s time to execute it!
Depending on your situation, this step may take 1 month, or 1 year (or even longer). Either way, be sure to stick with the plan to the end.
If all goes well, you will be able to watch your score rise!
It’s often not a simple and quick process. It also takes a strong desire to want to improve and some persistence.
But one thing is for sure – it’s absolutely worth it!