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21 Steps to Fix your Credit Score before

Halloween

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It generally takes at least six months to fix your credit.Most people don’t plan on needing to fix their credit score for Halloween. While it’s impossible to put a timeline to fixing your credit score, there is good reason to believe that you’ll need at least half a year to start seeing real changes.

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Some of the biggest steps to fixing your credit score take several months to complete. Another factor is that inquiries, when you or a lender accesses information in your report, stay on your credit report for six months. Too many inquiries will lower your credit score so it’s a good idea to give them time to drop off the report.

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1) Understand what affects your credit score

>The credit score is a number, generally between 300 and 850 assigned by one of three agencies. Your score is based on: Your ability to pay off more debt Your credit history other things that might help

creditors make decisionsA score below 600 will generally mean you’ll have trouble getting loans or will have to pay a higher interest rate. A score of 720 or above will generally get you better interest rates.

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2) Keep the contact information for credit bureaus

Equifax Credit Information Services, IncAddress: P.O. Box 740241Atlanta, GA 30374Telephone: 1_888_766_0008Online: www.equifax.com

TransUnion LLC Consumer Disclosure CenterAddress: P.O. Box 2000Chester, PA 19022Telephone: 1_800_680_7289Online: www.transunion.com

Experian National Consumer

Assistance CenterAddress: 475 Anton Blvd.Costa Mesa, CA 92626Telephone: 1_888_397_3742Online: www.experian.com

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3) Review your credit reports for accuracyThe first step to fixing your credit score is to check your three reports for errors. Even one error could mean the difference between a great score and a much lower rate.The only site that offers your free annual credit report from each of the three credit bureaus is annualcreditreport.com.

4) Remove negative credit comments from your reports

Write a dispute letter to the credit bureau about any errors on the report. The credit bureau is required to investigate the claim and will contact the company that posted the negative account. If the credit bureau does not hear back from the company, they will remove the account from your report. The credit bureau is also required to follow up with you and tell you the result of the investigation.

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5) Get a secured credit card to build up your credit history

 It works like a debit card and is easier to get. You deposit a sum of money with the bank, and you’ll have that sum of credit limit on your secured card. Then use the card normally. Pay in full, on time, every month to avoid fees and it should help raise your credit score through payment history.

6) Stop using your credit cards as much.You need to get your credit under control and lower the amount you owe. Remember, debt owed and available credit is a big part of your credit score.

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7) Get a peer loan to pay off your credit cards

Peer loans show up on your credit score as non-revolving lines of credit since they have a fixed payment and you cannot continuously keep charging more debt. Use a peer loan to pay off revolving credit like charge cards but just make sure you don’t run out charge more on your cards.

8) Add good credit accounts to fix your credit score

If you don’t have much of a payment history or many lines of credit, try opening a couple of new cards. Use them normally and pay them off each month. This will increase your available credit, lowering your utilization ratio, and will also help improve your payment history.

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9) Become an authorized user on another credit card

This will help build up your credit while being listed on their card. It may take some convincing, especially if you have not been financially responsible in the past. This one is tricky because you absolutely have to hold up your end of the bargain and use the credit responsibly.

10) Decide whether to avalanche or snowball your debt Avalanching your debt means paying off the highest interest rates first. Snowballing your debt is another strategy and involves paying off the

smallest accounts first.

11) Once you pay off your debt, make sure you get a settlement letter.Send a copy of your letter to the credit bureaus so they can update your credit report right away. This should have an effect on your credit score and your ability to borrow money.

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Contact creditors with negative comments on your credit reports. Offer to pay off the debt or a portion of it if they will agree to contact the credit bureau and remove it from your report. Get the deal in writing and hold up your end.

12) Negotiate with creditors to fix your credit score

Negotiate the amounts you owe or find some way to get current on your bills then keep making on-time payments.

13) Create a budget and stick to it

This one should probably be at the top of the list to get you started but it isn’t directly related to fixing your credit score. If you continuously overspend and can’t stick to a budget then fixing your credit score will do little good after you destroy it again.

14) Get current on your payments and stay current

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15) Don’t close your credit accounts

Closing a lot of accounts suddenly may affect your credit score as well. Try to close accounts you don’t use at least six months before you need to apply for any big loans.

16) Set up payment reminders on your billsSet up email or text reminders for when you need to pay bills. You could also enroll in automatic payments, which are automatically debited from your bank account.

17) Look out for identity theft

Identity theft can ruin your credit and haunt you well after you’ve got the situation resolved. Make sure you check your bank accounts and credit cards regularly.How I Make $45 an Hour Writing Online: http://peerfinance101.com/2015/03/how-i-make-45-an-hour-writing-online/

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18) Be careful of inquiries on your credit report

Every time someone looks at your credit report, the inquiry is noted. If you have lots of inquiries on your report, it may appear that you are shopping for several loans at once or that you have been rejected by lenders.

19) Don’t think that having no loans or debts will improve your credit score

Lenders want to see that you can handle credit, and the only way they can tell is if you have credit that you handle responsibly. If you currently have no credit accounts at all, opening a low balance credit card can actually boost your credit score.

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20) Know the difference between soft and hard inquiries

A soft inquiry in when you pull your credit report to look at it. Hard inquiries from lenders will affect your credit score.

21) Have enough insurance

Not having enough insurance to cover health problems or accidents can cause you to borrow beyond your ability to repay and get you into credit problems. Nobody likes paying every month for something they’re not sure they’ll even need but it is a small price to pay if the situation arises.

Fixing your credit score is not something that will happen overnight but after six months of good financial responsibility, you should notice some improvement.

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