IMPORTANT
Tips for Maintaining a Strong Credit Score
Because your financial education matters to us.
6 tips to boost your credit score
➤ Remove derogatory items and errors affecting your credit report
➤ Remove negative items such as collections, charge-offs, and late payments
➤ Pay your bills on time
➤ Keep your account balance below 30% of your credit limit
➤ Maintain your oldest credit card
➤ Make small purchases on cards with zero balances and pay them off promptly
benefits of a good credit score
➤ Qualify for lower interest rates
➤ Improve approval chances
➤ Secure better car & mortgage loan rates
➤ Access higher loan amounts
➤ Obtain higher credit limits
➤ Enhance housing opportunities
➤ Qualify for refinancing
➤ Simplify the rental process
Negative items affecting Your credit score
➤ Hard Inquiries
➤ Late Payments
➤ Collections
➤ Repossessions
➤ Foreclosures
➤ Liens
➤ Charge Offs
➤ Student Loans
➤ Medical Loans
➤ Bankruptcy
HOW CREDIT SCORES ARE CALCULATED
the image above is a pie chart example on how credit scores are calculated.
HOW TO MAINTAIN A GOOD CREDIT SCORE
➤ Always pay your bills on time
➤ Regularly check your credit report for errors
➤ Frequently review your credit status
➤ Maintain low credit utilization
➤ Limit the number of credit applications
➤ Steer clear of defaulting on accounts
➤ Work on building a strong credit profile
➤ Avoid accumulating large debts
➤ Maintain a diverse mix of credit types
➤ Property managing your finances
WHO WE'RE WORKING WITH
REBUILD YOUR CREDIT
Welcome to CreditConnect, book a consultation today and let's fix your credit.