Having a bad credit is really disappointing most especially if it is because of uncontrollable purchasing and a large amount of debt. Your credit score can greatly affect your financial transactions too namely acquiring a house or car loan and even employment. Therefore, it is very important for you to improve your credit score. If you are in a hurry for an important transaction, loan or employment, here are some tips on how to improve credit score in 30 days.

The first thing that you need to do is check the status of your credit score by acquiring a credit report. This report contains all the necessary information pertaining to your transactions such as purchases and payments. You can get a free copy of your credit report from the different credit bureaus like Equifax, Trans Union or Experian. If you see that your credit score is greater than 700, it is a good sign. But if it is below 700, it is time for you to improve your score.

Usually, the reason why people acquire low credit scores is that their outstanding balance is nearly approaching or is beyond their credit limit. If you want to widen the gap between your debt and your limit, you can open another credit card account. You will transfer your payments from your previous credit card to the new card in order to lessen the amount of payments and balances on your previous card.

Pay your bills on or before the due date in order to avoid financial charges. If you want to make sure that you are paying your bills at the right time, setting up and automatic payment plan will greatly help. Once you start paying your bills before the due date monthly, your credit score will begin to improve or increase. You can also start paying off your debt by paying more than the required amount for the month. The more amount you pay, the lesser the interest will be. Therefore, you will be able to pay your outstanding balance at a shorter period of time. Once you have paid all your debt, make sure that your account does not close. Make your account open because having a line of credit for a long period of time will also improve your credit rating.

To be able to pay your debts and balances in a short span of time, budget and spend wisely. Do not buy things that you do not need and purchase only those that you will need for the day. Stick to buying your food, beverage, gas, water and other daily needs while you are on the process of debt payment. Once you pay all your debt, establish good credit then you can already spend a little more. But be sure not to go beyond your credit limit again or do not repeat the acts that caused you bad credit. Always manage your purchases and savings so that you will no longer have problems with paying large amounts of debts and high interest rates.

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Category: Finances
Keywords: credit score, improve credit score, improve credit score in 30 days, fix credit score