Maintaining a healthy credit score is crucial in today’s financial landscape. It affects your ability to secure loans, obtain favourable interest rates, and even qualify for rental applications. If you’re struggling with a poor credit score or inaccurate items on your credit report, it’s time to take action.
How to Clean Up Credit Report
The first step in improving your credit score is addressing any errors or inaccuracies on your credit report. Begin by requesting copies of your credit reports from the major credit bureaus—Equifax, Experian, and TransUnion. You are entitled to a free report every year, so take advantage of this opportunity.
Once you have your report, scrutinize it for any inaccurate or outdated information, such as incorrect personal details, accounts that don’t belong to you, or erroneous payment histories. If you find any discrepancies, you can dispute these with the credit bureaus. Credit Delete Geeks can assist you in managing this process efficiently, ensuring your report reflects accurate information.
How to Raise Credit Score
Raising your credit score requires consistent effort over time. Start by focusing on paying your bills on time—payment history makes up 35% of your credit score. If you struggle with multiple payments, setting up automated payments can help.
Next, aim to reduce your credit card balances. The credit utilization ratio—how much of your available credit you’re using—should ideally stay below 30%. Reducing your balances and avoiding maxing out cards can significantly boost your score.
Finally, avoid applying for new credit frequently, as this can lead to hard inquiries on your report, which temporarily lowers your score.