Changing your bad credit to good is like gaining muscle mass. It does not happen in an instant but must be changed gradually though deliberate action steps. Not doing the required actions in a consistent way but lapsing to lethargy will push back the process.
Here are three ways to improve bad credit score:
1. Secure your credit report from a credit bureau. Check your credit report to see if there be any error with respect to record of for errors on late payments and underpayment or overpayment of loan and of any outstanding balance. If there be errors, have them immediately rectified by the credit bureau. You can opt to request copy of your credit report so you can monitor your record and performance. Take appropriate actions immediately when you discover any decline in your credit score.
2. In order for you to monitor your credit scores, always pay your credit obligations on or before the due date. To make sure you never forget and miss any of the payment schedules, you can enroll in payment reminders system offered by your lending company or bank. You apply for this through their online portal. Once you have enrolled they send emails or text message to remind you when a payment is due.
Other loan providers have automatic deduction system arranged with your bank. This is even a more effective way never to miss any payment due. You can even give instructions to your bank to give priority to your particular debt payments over all others in case you will have deficit from your monthly budget or salary.
3.Start monitoring all your credit accounts by requesting your updated copy of credit report or statement of accounts. Note which account costs you the most in terms of interest and other charges. Stop using credit cards that costs the most. Better yet stop using credit cards cause they’re the most expensive fund source and the most tempting to use. Check all other accounts you are using to see which can be retired immediately or if not have a planned retirement of all of them or just maintain the ones you still need most and cost the least.
4. You can apply for online loan with the most helpful loan provider – cashwagon.ph.
Cashwagon upon evaluation of your current credit standing can give you a clean slate and help you improve your credit score by monitoring and assisting you in improving it and eventually once improved report the same to credit bureaus to boost your credit score.
Following the above measures, your bad credit will gradually but definitely improve and once it has reached the desire credit score maintain it by vigilant monitor of your financial activities and credit performance avoiding the pitfalls of the past.