More people than you think have low credit scores. An estimated 70 million Americans wrestle with the same problem and almost everyone wrestles with it at one time or another.
THE GOOD NEWS IS, THERE’S A TON YOU CAN DO ABOUT IT!!!
If your score was low, you probably fit into one or more of the these categories:
1. You Have Negative Marks on Your Credit Report.
Maybe you missed a few payments or had an account go to collections. Perhaps you declared bankruptcy, tangled with the IRS, or worse: maybe someone else’s bad marks are showing up on YOUR credit report. Whatever the reason, you need to REPAIR your credit report.
2.You Don’t Have Negative Marks, But You Do Have Debt.
You carry high balances, have too many inquiries on your reports, or you show too many accounts of a certain type. You need to GROOM your credit report.
3. Your Credit History is Too Short
Perhaps you’re just getting started financially, are fresh out of school, or simply arrived here yesterday through a rift in the space-tine continuum. In any case, you don’t have much info on your report. You need to BUILD your credit report.
4. You Have Bad Marks and High Debt
You’ve been busy…you need to REPAIR and GROOM your credit report.
So, let’s get going down the road of credit score improvement!
Your credit score is really only a computer’s best guess at how likey you are to default on payments. If you have a funky credit history, your score is low and you are considered a “high risk” by banks and lenders.
Here’s the cool part though: The credit score mega-computers calculate your score by looking at your credit report and nothing else. And guess who has tons of control over what shows up on your credit report? That’s right, cowboy: YOU DO.
In other words…if you want to improve your score, you just gotta improve your report. Improving your credit score takes time and some know-how. Studies show that if you don’t get started TODAY the great green monster “procrastination” will devour the next year and leave with a stinking credit report. Then, you’ll apply for credit AGAIN and wonder of wonders, you’ll be right back where you are today. Unless you got an extra seven to ten years lying around, your credit score won’t fix itself. So get going…good credit awaits you!