Having a good credit score has never been more important.
Your credit score has a huge impact on your life. A good credit rating means paying less when you borrow for mortgages, car loans, and other loans. This could mean lower insurance rates, better terms and benefits for credit cards, and cheaper cell phone plans.
In some states and with some employers, this three-digit number can even affect getting a job. Ouch!
Unfair? May be. But this is the system that we have, and it is essential that you know how to best navigate it.
Ready to take control of your credit score? Here are several suggestions.
1. Get your free credit score
Before you can improve your score, you need to know where it is now and why. As stated, some people are all about DIY credit score fixes. There is nothing they are not prepared to do, from challenging a report to disputing mistakes, writing “goodwill” letters and finding other ways to correct it. who does not go.
If that’s not you, there is a much easier option – get a free Credit Sesame Credit Score and Analysis.
This free consumer credit score site will review your current score and credit report. Then it suggests things you can do to improve the score, which saves you a lot of time in terms of finding solutions on your own.
On the subject of savings: Did we mention that this is all free? Stop by Credit Sesame and get your free credit score.
2. Consolidate your credit card debt
Contrary to popular belief, credit card debt is not necessarily the result of neglect or greed. Divorce, illness, unemployment, and sometimes sheer bad luck can make it easy for you to get into debt – and very difficult to get out of.
The longer you are in debt, the more likely you are to miss a payment and damage your credit. Rather than losing sleep over high card balances, seek help from the Freedom Financial Network. Founded in 2002, the company offers a variety of tactics to help those mired in debt.
Which would be the best? You will find out after the first free consultation. This is where a debt consultant goes with you to review your credit report, line by line, to assess your position. Depending on your needs and your budget, you may be offered options such as a balance consolidation loan or a debt management program, among others.
Once your debts have been consolidated, you will only have one monthly payment instead of several. Meanwhile, free credit counseling helps you learn money management tactics to further reduce financial stress.
Want to put an end to sleepless nights obsessed with your debt? Start now.
3. Find $ 700 more by changing car insurance
As stated, having a lot of debt lowers your credit score. Paying it off with a personal loan is one way of cleaning up. Another is to rearrange your budget to find “extra” money and start a quick debt repayment plan.
How about an extra $ 700 or more per year? This is the kind of money people save by switching from auto insurance to Progressive.
Or maybe $ 1,400 more per year if you’re a two-car family? That’s a lot of foldable green – and you’ll save it every year. In three years, you would see an additional $ 4,200 in your bank account; in 10 years, $ 14,000 more. What could that kind of money do for the bottom line?
You won’t sacrifice protection for savings, either. Progressive is a well-established company that provides all the coverage you need.
So take a few minutes to get a quote from Progressive. By putting the money you save against this stubborn debt, you will be heading towards financial stability.
4. Let this business fix your credit score
Here at Money Talks News, we often write about ways to improve your credit score with techniques you can use on your own.
But be honest: how likely is it that you actually do? The point is, many of us are too busy and / or too stressed out to take on any other task, even when we know we should.
Fortunately, Credit Saint exists to help consumers correct their scores. Since 2004, they have specialized in credit repair for people who don’t know or don’t have the time to focus on that three-digit number that makes a huge difference in their financial lives.
They offer a free consultation with an expert who carefully reads your credit report and researches areas for improvement. If you sign up, Credit Saint works with the credit bureaus to correct errors and suggest other ways to increase your score. Credit Saint monitors your reports and provides updates on the progress you have made.
It’s okay to recognize that you don’t have room in your busy life for a DIY credit repair. But you need to recognize the damage a lower than average score does to your finances – and do something about it.
A better credit score will have a lifelong impact, so get your free consultation today.
5. Protect your identity against theft
Nothing inflates your credit score faster than identity theft. Maybe a scammer gets your credit card information and goes shopping. But you won’t know unless you regularly check your credit card balance – and seriously, how many people don’t even read their credit card statements, let alone monitor their spending online?
Or maybe a thief gets your personal information, opens new cards with your name on it, and immediately maximizes it. You won’t see these fraudulent charges until your credit score inexplicably increases and you order a credit report to find out why.
Does that sound scary? This is distressing. And it is not uncommon. But a company like Identity Guard can help keep you safe. Identity Guard has been around since 1996 and uses a powerful artificial intelligence system to search for threats (including on the dark web).
Identity Guard establishes a “risk management report” when your web activities suggest potential warning problems. It informs you of the potential risks of identity theft on your social media platforms. Two of Identity Guard’s plans offer free monthly credit scores and credit monitoring with the three major credit bureaus. The company also has tools to secure your financial information when paying bills or shopping online.
Being concerned about identity theft is not paranoid. It is careful. Protect yourself against identity theft now.
6. Borrow $ 50,000 to pay off your debt
Do you have balances on multiple credit cards that you just can’t pay off? High compound interest is great when you are building wealth, but when charged against the debt you are paying off, it stinks because it means you are paying interest on interest.
Another disappointment: all of that interest paid is money that isn’t working for you. Instead of making you rich, it enriches your lender.
If you’re paying high rates, consolidating your debt with a low-interest loan could help you pay it off faster. With a free website called AmOne, you can erase all of your credit card debt in record time. AmOne will give you a low interest rate loan to pay off all of your credit cards at once, saving you thousands of dollars in interest charges.
AmOne has been a loan matching agent since 1999, connecting consumers with major online lenders for loans of $ 1,000 and over. It takes about 60 seconds to complete the form, and in less than a minute you will get a list of offers from AmOne loan partners. Once you choose a lender and complete the application, you can get the cash in three days or less.
Important: Before getting a consolidation loan, make sure your expenses are under control. If not, borrowing more could make your situation worse. But if you’re ready to step aside and get a head start on a debt-free life, take a minute now and learn about your best loan options.
7. Pay 0% APR interest until 2023
Not to beat a dead horse, but: Big credit card balances are probably the number one reason your score and budget are struggling. And the more interest you pay, the more your budget decreases. Think about the opportunity cost of those dollars. You cannot use them other than to enrich a credit card company.
If you qualify, transferring your consumer debt to a 0% balance transfer card can solve one of these problems and go a long way towards solving the other. You’ll still owe money, but with some cards you won’t pay a dime of interest until 2023. Instead of paying interest, your entire payment will eat away at the principal.
Of course, you need to do the math to make sure that the fees you’ll pay (often around 3% of the balance) are worth it. Most importantly, you need a rock-solid plan to pay off the loan before the 0% APR offer expires. After that, the interest rate soars – and that wasn’t all the interest of to avoid high interest?
Ready to stop paying interest and take control of your cash flow? Discover a 0% APR interest card.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation for clicking on links in our stories.
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