Having good credit can help you to open doors to better financial tools and rewards , even if you will not be buying a big ticket item soon. It might even help you to land a job or get approved for a loan.

Check out seven steps to repair bad credit below for ideas on how you can work to improve your credit score.

1.Get a copy of your credit report

Get a copy of your credit report to see what negative items might be affecting your rating.

It is your right to receive one free copy of your credit report from each of the three major credit bureaus.

2.Analyze your negative factors

Looks for items on your credit report that are negatively affecting your score. The most negative items are:

LATE PAYMENT — your score can be affected by any late payment, but the more often the issue occurs, the greater impact

COLLECTION ACCOUNTS — you lose points if you default on an account and it goes to collections.

HARD ENQUIRIES — Hard enquiries occurs when a lender checks your credit. Each hard enquiry can affect your score in a small, temporary way.

HIGH REVOLVING CREDIT BALANCES- Revolcing accounts such as credit cards can lower your credit score if you owe at or near your credit limits

3.Resolve inaccuracies in negative items

Start your battle for better credit by addressing any inaccurate items on your credit report. Typos, missing information, or simply wrong information can lower your credit score.

4.Plan how to address accurate negative items

You can make a positive difference with your credit score by addressing any negative items or your report that are accurate. Getting caught up on your payments may help you in the future. Revolving open collections and other issues may also help.

5.Build a positive payment history

In order to build a positive payment history, prioritize making timely payments on any existing debt you have, including any kind of loan.

Taking out a personal loan or getting up a credit card and making timely payments every month can help you build your credit. Both loans and credit cards do not require collateral.

6.Reduce high debt revolving balances

The utilization rate of revolving credit, such as credit cards or lines of credit, plays a big role in your credit score. For instance, if your credit limit is $1000 and you have a balance of $800, your utilization rate is 80%

7.Positively manages your finances

You can continue to improve your credit score by maintaining positive financial management in the future.

> paying all your bills on time

> keeping a budget so you don’t have to rely on credit constantly

> keep balances low by managing accounts

If you want to repair bad credit , stay on top of things, so develop good habits and be aware of your financial status all times.

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