How to fix your credit

Your credit profile is an asset that can open or block your way to acquiring other assets. This is because your credit score is what lenders will consider when making a decision about whether or not to extend credit to you. Your credit score is also a consideration when you want to purchase an insurance policy or when you want to rent a house or commercial building.

Your credit score is deduced from the information on your credit profile. Everyone has a credit history profile that is maintained by the three main national credit reporting bureaus; TransUnion, Experian, and Equifax. The data is accumulated based on your financial transactions such as your credit card debt, student loans, payments made towards what you owe when you pay your bills and other transactions.

Asset or liability?

Your credit profile can be an asset or a liability. One that gives you a high score enables you to access credit with favorable interest rates while a low score will make it difficult for you to access credit and push up your interest rates. This is why it is important to work on building your personal credit. Over your lifetime, you could end up paying up to $200,000 less in interest if you have a great score which would be 750+ points or more. If your credit score is between 300 and 639, then you need to work on it.

CivilizeIt

CivilizeIt is an organization that is dedicated to helping you to fix your credit score. We operate via a messaging platform through which we guide clients towards bringing up their score. On our platform, you can get important information on your credit report including any errors and updates on any disputes such as the progress that has been made towards correcting wrong information

Sometimes, you credit score is low because of these errors. A report from the FTC indicates that one in four consumers have errors on their credit score resulting in a score that is lower than it really is. In 80% of these cases, the credit score was changed when they asked for verification.

Another service you can get from CivilizeIt is eliminating fraudulent debts which can also negatively impact your credit score. We check and ensure that you do really do owe what your credit report indicates you owe. We get credit bureaus and collection agencies to verify that the debts on your report are legitimate.

CivilizeIt consumers have the protection of the Consumer Financial Protection Bureau which ensures that your legal rights are protected. We use state-of-the-art security measures to protect your information by fully encrypting it.

How to Fix your Credit Rating

  • A credit rating is like a final grade - it determines so many of the opportunities that will become available to you. Just like grades, even small instances contribute to the lowering of the grade, locking you away from open doors that you never knew were there to begin with.

  • This is why credit rating is important - banks and lenders will determine how trustworthy you are on as single quantitative score. It may feel like school all over again with such an oppressive number system, but sticking true and staying smart about your cash and credit will help you win this battle.

  • Stuck in a rut with your bad credit score? If you’re ready to own up to past mistakes, move on, and patch things up, this mini guide will help you take the steps in the right direction.

  • Keep using your credit cards. Were you expecting to be told to lock them away and never use them for ever? That is actually the worse idea you can have at this point! Using your credit card is the actual proof that you are using credit responsibly, so keep using it for your necessary purchase! Just maintain them for the absolute necessities, as this will build up your score over time.

  • Set up an automatic payment. To help you manage your credit score better and address your basic needs on time, setting up automatic payments with your account is a no cost, hassle-free method you will love. Pay off insurance and bills immediately with a function that should come with the bank account you have connected to pay your credit card with. You won’t even feel the sting of the cash being withdrawn because it automatically happens. This way you get rid of your immediate needs first, leaving less funds for any unnecessary purchases.

  • Work on paying off balances and getting rid of finance charges. This should be your number one priority. You may have heard of the tip of getting a loan to pay off credit card charges, but don’t attempt it if it’s your first time or you have no experience there. It’s a risk you might not want to take! While still using your credit card, make sure to get rid of any excesses as soon as possible, because it is that balance which is causing overdue and overdraft fees. Just skimming off the fat on your debt may be sufficient to get by.

Further reading

Free credit report

Free credit reports have never been easier to get. You can still go the traditional route and pay for them, and then wait to get them in the mail. Or now you can get them online instantly and best of all for free. Now you can get access your credit history anytime you want and anywhere you want.