How to Increase Your Score
I realized not everyone has perfect or near perfect Credit Scores. In fact, I have come to realize that most people have crappy credit scores. I found this out after I married my husband. I never asked him about his credit score until after we got married. I was looking at his credit score in disbelief. How could someone have a 510 as a Score?!
I soon took matters into my own hands as he had no idea how to fix his score. First, I checked his credit report. Come to find out there were two credit cards on his report that he never opened nor owned. At that point in our life we shared a bank account and only had one bank account. What I found odd was that someone was making purchases nowhere near where we lived and paying the credit cards off slowly. This resulted in missed payments hitting his report and damaging his score. It took about 3 or 4 months for the whole process of removing them. Contacting the company’s, then contacting the credit report companies to get them off. Eventually they did come off.
I then added my husband on to my Credit Card. By adding someone onto my Credit Card, it does not harm their credit, nor does it harm yours (unless you miss a payment). Adding him onto my credit card jumped his score up to a 580.
Staying on top of your bills is important! One missed payment can drop your score by at least 7 points. A good way to prevent missing payments is to set up payment reminders and/or automatic payments to be deducted from your bank account directly. If you do have missed payments already get current and then stay current. By staying up to date on your payment it will eventually help your score. A missed payment stays on your report for two years from the date it happened.
If you have any debt you want to try to reduce that amount of debt that you owe. If you have the money go ahead and pay that debt off. By paying debt off you save more money by not having to pay as much interest as you would if you waited even longer to pay it off.
Also, beware of things such as paying off a collection account will not take it off your credit report. As well as closing an account does not make it go away either.
Do not close unused credit cards thinking it will increase our score….it will not unfortunately.
Also, do not open any new credit cards that you don’t need. If you open more credit cards it will hit your report and decrease your score. Instead opt for increasing your available credit. This then will not affect your score.
For Experian you can do an Experian Boost. And it’s FREE. All you have to do is hook up your bank account with Experian. They will scan your bank account for any reoccurring payments for things like utilities or phone bill etc. they then will use this to help increase your credit for making payments to the companies each month.
Lastly always check your Credit Score. I check my husbands and I’s biweekly.
Listed above in the photo are two free accurate apps you can use to check your credit score for free when ever you would like to.
Also, ALWAYS, ALWAYS, ALWAYS use your SCRA Benefits (Service Member Civil Relief Act). All you must do is call your lender, bank etc. Ask to use the SCRA Benefits. Some places will transfer you over to the SCRA Department. Basically, all you have to do is send in orders, or LES etc that shows your military. By doing this all loans and credit cards you use it on reduce to under 6% APR.
For example, I called Ally Auto which we have our auto loan through (I suggest not ever using them they are not that great and likes to claim you miss payments even when you have proof showing you did not). I called the customer service line. They transfer me over to SCRA Department. They then told me to just go on our online account through the secure messages, in subject line put SCRA and send over a picture of my husband’s orders and that was it.
Another tip – if your trying to buy a house- place ALL wrong information on your credit report under dispute. Contact all THREE credit bureaus by doing this it will increase your score when you apply for a home loan, and you will have a better chance at getting approved. Even if during the home buying process it comes back as “confirmed” and it was not taken off your credit report that is okay. The lenders will see it was under dispute and will honor that. You can re dispute it too as many times as you want over and over again. I re disputed something on Dillon’s credit report over 10 times. It was deleted eventually. Than added back on 8 days before we were suppose to close on our house, but it did not affect it at that point.
Remember Low Credit Scores means higher APR % when applying for a credit card, buying a car, and even higher interest rates on mortgages. So, in the end you will be paying a lot more in interest.
