There are so many reasons people wind up with bad credit. An unlucky business venture, medical problem, or job loss can quickly lead you down a dark road of bad credit. Fortunately, there are things you can do to improve your low credit score, and you can start right now.
First and foremost, check your credit report. There are three major credit reporting agencies, TransUnion, Experian and Equifax. All three are required by law to provide you with a free credit report every year. The correct web site to go to for for real, free reports is www.annualcreditreport.com. Here you enter in your information, including your social security number, and you can print out up to date reports from all three credit reporting agencies. After you do this, go through each one to make sure there are no mistakes or discrepancies. If you find any, you must notify the agencies in writing to request a change or deletion. This process is outlined in detail on the web page.
The second thing you can do to improve your credit score is to bring your accounts current. This may sound obvious, but it’s easy to ignore. Having past due balances on your credit report is very damaging. If you can’t afford to bring them all up to date all at once, that’s ok. Pick one or two and pay them down, then move on to the next. Eventually you will get there, and current balances go a long way to improving your score.
The third way is to establish new credit. You can do this several ways, like opening a secured credit card, buying something on it each month, and making the payments on time. You can also purchase a quality vehicle and financing it. We specialize in NY bad credit loans, and your past doesn’t matter at Credit Center of Suffolk. We have a dedicated staff who will work hard to make sure you will be approved. Then, by making your monthly payments on time, your credit is repaired and you credit score improves very quickly.
If you have are in a bad credit situation, take these three steps and be on the road to better credit today!