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A high credit score can help you save a ton of money over your lifetime. The higher your score, the lower the interest rates you can qualify for — the lower the interest rates, the more money that stays in your pocket.
Unfortunately, having a high credit score that makes it easy to secure favorable financing is not the reality for some. In this article, we’ll look at how you can start boosting your credit today so you can enjoy a higher score in the future.
The One Credit Mistake You Must Avoid
If you want to apply for a credit card, rent or buy a home, buy a car, or take out a loan, a low credit score could keep you from achieving your goals. Ignoring your score won’t make it magically increase over time. As tough as it may be, you should know where you stand so you can make the proper moves to improve your situation.
A credit report will give you an overhead view of your score. You can get one free copy once a year from each of the three nationwide credit reporting bureaus (Equifax, Experian, and TransUnion).
While seeing your credit score can give you a better idea of where you stand, it can be tough to decipher. To make it easier to understand, you may want to solicit the help of a score-boosting company like Credit Sesame.
How Credit Sesame Can Help You Increase Your Credit Score
Knowing your credit score isn’t enough information to increase it so you can secure low-interest loans. You need to know precisely what you’re looking at, and what you can do to improve. That’s where Credit Sesame comes in.
The site explains each part of your credit score in detail so you can get a real understanding of how credit works.
First, it grades you on the most crucial credit factors so you can pinpoint your problems. Second, it tells you which steps to take to solidify your credit-increasing strategy based on your current profile and goals. Lastly, Credit Sesame lets you know what your best options are so you can save money on credit cards and loans.
If debt collectors are calling already, that could mean trouble is coming. But it could mean they are ready to negotiate with you.
Don’t go at it by yourself. Your next step could mean the difference between getting out of debt or getting further into it from fees and deferred payments.
Let the professionals negotiate on your behalf.
How Long Does It Take to Increase Your Credit Score?
Every situation is unique, but many people can increase their credit score within months by making the proper moves, such as:
- Prioritizing medical debt
- Paying off credit card debt
- Tackling bills one at a time
- And so on…
Your best strategy will depend on various factors. At the very least, however, having a plan in place can help you secure the credit score you desire.
As for how long it could take to see an improvement, some members were able to increase their credit scores within six months. How much can your score increase? Again, that depends, but some saw 200-plus point increases. If you’re able to do the same, you could boost your borrowing power bigtime.
It may seem intimidating to pay down debt and slowly build your score, but the quicker you take action, the easier it will become. The longer you let your credit sit without fixing it, the less peace of mind you will have, and the more difficult it will be to get low-interest loans for things you and your family need.
In short, whether it’s via Credit Sesame or someone else, don’t ignore your credit score any longer. You can fix it as many others have before you, as long as you have a credit-fixing plan and stick to it.