It should come as no surprise to hear that having a high credit score makes your life easier, and having a low credit score limits you in many ways. Whether it’s at the dealership, mortgage office, or leasing office, you often feel the effects. Although you can still apply for our bad credit short term loans, it’s in your best interest to work towards a credit score you can be proud of. Our team at Short Term Loans has three tips to start rehabbing your credit.
1. Set Up Payment Reminders
Making your credit payments on time is one of the most important factors to your credit score, so you don’t want to forget. Many banks offer payment reminders by email or text message through their online portals, so you know when your payments are due. We highly recommend you take advantage of this service.
2. Reduce Your Debt
Stop using your credit cards and determine how much you owe on each. Paying down your revolving credit card debt, instead of just moving it around, will help raise your score. Put payments towards cards with the highest interest rates first, while maintaining minimum payments on your other accounts as well.
3. Leave Old Debt on Your Report
Many people rush to have old debt removed from their report as soon as they have their car, house, etc. paid off. This is a common misunderstanding. Good debt – debt that you’ve handled properly and paid as agreed – is beneficial to your credit. The longer the history of good debt you have, the better it is for your score.
Unfortunately, improving your credit score doesn’t happen overnight. If you need a little help in the meantime, our bad credit short term loans will get you through. Short Term Loans will be there to assist throughout the entire process. Contact us today for more information.
