Best Way to Fix My Credit

Best Way to Fix My Credit

It’s hard to pick just one ‘best way to fix my credit’ as there are a number of factors that go into making up your credit history and all of them have a part to play in what accounts for your credit record. The best way to start is by looking at what kind of things you can do right now to fix your credit that will bring the fastest results.

Remove incorrect information

First off you should make sure the information on your credit reports is accurate. Removing incorrect information can increase your score and is one of the quickest and best ways to fix your credit, as credit reporting agencies have to delete items they cannot verify off your credit report. They have to do this approximately 30 days from when they receive a letter from you disputing any errors that they cannot verify.

Reduce your debt-to-credit ratio

Another ‘best way to fix my credit’ is to look at your debt-to-credit ratio and see if you can improve this by moving some money between your accounts. Say for example you have a credit card and have used up to 80% of its credit limit. You could move some money into the credit card to reduce the debt-to-credit ratio to say 50%. Having available credit of 30% to 50% of your credit limit can increase your credit score within a short period of time.

Pay bills on time

Paying your bills by their due date from now on is a good way to start improving your credit. While there’s nothing you can do about late payments that appear on your report, you can make sure you have no more late payments showing on your report by paying all your bills on time from now on. Because timely bill payments have a 35% weighting on your credit report, you can really make a positive difference to your report by paying those bills by their due date.

Remove Old Inquiries

Removing old inquiries or those that may not even belong to you, yet appear on your report is also another way to help fix your credit. Just send a letter to the credit reporting agency listing the incorrect and old inquiries that are on your report that you wish to get removed. By removing these, your credit score will go up.

So there are a few things you can implement in your quest for the “best way to fix my credit”. Do them all and you’ll enjoy a much better credit score in the near future.