Your credit score indicates your financial health and creditworthiness. The higher your score, the easier it is to get approved for new lines of credit or loans. A person with a good credit score is also eligible for lower rates of interest when borrowing. So, if you’d want to improve your credit score, here are some essential tips from Tradebloc Tim Clark, a credit & debit management expert with vast industry experience.
Review Your Credit Report
A good credit score begins with regular monitoring, says Tim Clark. He has been in the industry for 22+ years and is a leading money-earner in the credit repair industry. The basic difference between an average credit score and a great score is –that the latter is achieved through regular credit monitoring.
He recommends an advanced credit monitoring platform, IdentityIQ. It will draw 12 reports or scores from all three major credit bureaus and monitor the same thoroughly to identify potential errors, duplicate entries, or suspicious activities that might be pulling down your score. Identifying and eliminating these from your credit report can help improve the overall score.
Pay Credit Card Balances and Bills on Time
Late payments and defaults can reflect on your credit report for up to 7 years, ripping off your score. So, whether it is your credit card balance or utility bills, pay as soon as you can.
Tradebloc Tim Clark suggests a strategic way of paying your credit card balances. Always use less than 30% of your card limit and pay down before the end of the billing cycle. You can also consider paying several times across the month to keep the balance low.
Dispute Errors on Your Credit Report
Even one erroneous entry on your credit report can hurt your credit score. Check your credit report regularly to identify mistakes, if any. Once you find the errors, dispute those with the creditors.
Hire a Professional Credit & Debt Management Company
If your credit score is badly ripped off and nothing’s helping, it is ideal to have an expert credit & debt management company like Tradebloc.
With continuous monitoring and expert guidance from Tradebloc Tim Clark, improve your credit score slowly but positively.
