One of the more significant things you need to comprehend while undertaking your credit repair is that it doesn’t matter how daunting it may appear, it is possible. It is also a lot more straightforward than you would have envisaged. There are a few credit repair hacks you need to be aware of that will not only provide a boost to your credit score but have the potential to change your situation forever.
Maintain 3 major credit cards
By and large one of the better ways of performing credit repair and in the same vein maximize your credit score involves maintaining at least 3 significant credit cards open all the time. Although this may not be possible for everybody and that is fine. However, if it is possible, openly maintain these cards and use every one of them sparingly. If you are making 3 payments each month, it is always going to reflect positively on your credit score and will raise your credit quicker than single payments for 1 card.
Proper utilization of credit
Similarly, you are also expected to keep a close eye on the utilization of your credit. You must have control over the percentage of overall credit you have that you are using regularly. If you are looking to make a larger impact on your credit score, maintain the overall balance in the various credit accounts to a figure of around 25% to 30% for as long as possible.
Try to raise your credit limit to the fullest
It may sound a bit odd, however in reality it is closely related to the advice that was recommended above. Higher your credit limit is, the lower will be your utilization of the available amount. Therefore, if you own a credit card that has $1000 available in credit with $500 in balance you are using exactly 50% of available credit to yourself. However, if you can get your card limit raised to $1500, suddenly your $500 balance is 33% of what you are allowed to spend. This is a great method for performing credit repair without actually doing too much at all.
Resist all those hard inquiries
When you have embarked on a credit card repair journey you will get an urge to apply for a new one that is offering a lower interest rate for easing out some of these burdens. But try and avoid it in reality. Because trying to get a new credit is always going to result in a hard pull for your credit and it is going to harm your credit score in short term. If you can find some ways of fixing your credit score within a year and stay away from all hard pulls during this period, you are more than likely to enjoy a good boost after these 12 months are finished.
If you wish to learn more about these credit repair hacks that can change your situation or even your whole life, or if you have certain additional queries you want to discuss your credit card situation with a professional in detail, contact Super Credit Repair immediately.
Picture Credit: Freepik