How to Improve Your Credit Score and How to Improve Credit Rating
So you’ve been tight on money lately and you’ve had some issues paying the bills on time. You know that this isn’t how to improve your credit; in fact, it’s the very opposite. But you’re looking for ways that you can mitigate some of the damage, and we’re here to help.
Check your credit history Our last post talked about how to obtain your credit report. If you haven’t done that already, it’s a good place to begin. Like any compilation of data, it’s possible that your credit report contains errors. Maybe some payments you made on-time are listed incorrectly as late payments, or maybe the balance owed on your account(s) is inaccurate. Checking your credit report will allow you to locate mistakes and give you the chance to dispute them with credit bureaus. Fixing these mistakes is a step towards credit improvement.
Pay off credit cards If you’re wondering how to improve your credit score through debt repayment, paying off your credit card is the way to go. While servicing student loans, mortgages and the like can help your scores, the highest improvement to credit comes from repaying opened-end accounts such as credit cards or lines of credit.
Opt for payment reminders This will be most effective for individuals who have an issue with remembering to pay their bills by the due dates. A huge factor affecting your credit score is whether or not you make your payments on time. Many institutions allow you to set up a reminder system via email or text and will send you a notice when your payment is due. Also, opting for automated payments – which extract money directly from your account on the set due date – is a good way to ensure that your payments are always made on time.
Mix it up Having a few different credit products can actually help you improve your credit rating, as long as you manage them properly. Demonstrating that you can responsibly handle both revolving credit and installment loans can increase your credit score.
While you may be worried now about how to improve your credit, a few quick fixes can get you started on the road to better credit. If you can cut out some damaging activities – like forgetting to pay on time – your credit rating will climb and you’ll have an easier time borrowing in the future.
Niiwin, LLC, d/b/a Lendgreen (“Lendgreen”), is a wholly owned subsidiary of LDF Holdings, LLC, a wholly owned subsidiary of the Lac du Flambeau Business Development Corporation, a wholly owned and operated economic arm and instrumentality of the Lac du Flambeau Band of Lake Superior Chippewa Indians (“Tribe”), a federally recognized Indian tribe. Lendgreen is organized and in good standing under the laws of the Tribe. Lendgreen is a duly licensed Financial Services Licensee of the Lac du Flambeau Tribal Financial Services Regulatory Authority, an independent regulatory body of the Tribe.
All loan application decisions are made at Lendgreen’s office located at 597 Peace Pipe Road, 2nd Floor, Lac du Flambeau, Wisconsin 54538 on the Tribe’s reservation. If your loan application is approved by Lendgreen, your loan will be governed by Tribal law, applicable federal law, and the terms and conditions of your loan agreement.
This is an expensive form of borrowing. Lendgreen loans are designed to assist you in meeting your short term borrowing needs and are not intended to be a long term financial solution. The Annual Percentage Rate (“APR”) as applied to your loan will range from 720% to 795% depending on your payment schedule, pay frequency, loan term, and the amount of your loan. Late payments and non-payment may result in additional fees and collection activities as described in your loan agreement and as allowed by Tribal and applicable federal law. Lendgreen does not lend to residents of AR, CA, GA, MD, MN, NY, PA, VA, WV, WI. Availability of installment loans are subject to change at any time at the sole discretion of Lendgreen.