It’s no secret that those with great credit scores get all the best perks. From mortgages and cars to boats, when you have a good credit score, you can get almost anything!
Unfortunately, not everyone has a good credit score. But the good news is, if you want one, you can have one too!
With that being said, here’s how you can do your own credit repair in Winston-Salem.
Step #1 – Get a Copy of Your Credit Report
Before you can fix your credit, you need to know what exactly needs to be fixed. You can get a free report from all three credit bureaus once a year. Once you have your credit report, you can move on to the next step.
Step #2 – Fix Any Errors
As soon as you get your credit report, read over it and check for any errors. If you notice any errors, have them addressed immediately.
Step #3 – Start Building a Good Credit History
Your payment history accounts for 35% of your credit score. That means the easiest way to start building a good credit history is to start making payments on time.
Step #4 – Maintain a Good Debt-to-Credit Ratio
Your credit utilization should never be more than 30% of your income. Anything above that tells lenders you aren’t a responsible consumer.
Step #5 – Keep Older Accounts in Good Standing
The age of your accounts matters. Lenders love older accounts that remain in good standing.