A quick look at some tips for raising your credit score

Clearing your debt and raising your credit score can take years. However, these two steps can help you.

07:44 01 February 2014

Your credit report can often define whom you are when it comes to financial matters. This is why it is important to make sure that you have everything in order and when you do get into trouble with your credit, you do what you can to get out of it quickly. 

 

• Ask for good faith adjustments – good faith adjustments are a great way to correct some of the smaller problems on your credit report. In some cases, you may have one or two late payments, which were reported. They could have been caused by something that was outside of your control, such as a computer malfunction or server malfunction. These types of issues are often overlooked and you could have been reported for being late because of the automated system. Contacting the creditor and asking for a good faith adjustment could help remove that late payment from your credit report. This can help to boost your score automatically. 

 

• Making an improvement to your debt to credit ratio – There are numerous ways to accomplish making a change to this ratio. For example, you can pay off some of your smaller bills or take on a second job. As your debt to income ratio changes, your score will change as well. The higher the difference between your debt and your income, the greater your credit score. 

 

These are just two of the ways you can increase your credit score quickly. It does not take long to help improve your score and open a whole new financial world to you and your family. Just remember to keep a sharp eye on your credit report and resolve issues quickly to ensure the best score possible.