What To Do If You Have Bad Credit

If you’re struggling with bad credit and need a way to get money quickly, you do have some options available to help you out! The idea of turning your credit score around might seem complicated or almost impossible, but it isn’t. With some time and effort, you can actually get your credit to where you want it to be. In fact, there are plenty of tips that don’t even take that much time to show favorable results! There are plenty of tips you can use if you need to turn your credit score around.

4 Tips To Turn Your Credit Score Around

If you’ve decided to turn your credit score around, the best place to start is to gather up some good tips to help you get started. But just like with any financial topic, you’ll find plenty of tips that experts will say to use. It might feel overwhelming at first, but you only need a few solid tips to improve bad credit habits. To help you sift through all of the advice, here are four tips you can use to help turn your credit score around sooner rather than later.

1. Keep Paying Your Credit Card Balance

When it comes to bad credit, the best way to turn it around is to make continuous payments to your credit card balance. You see, every time you use your credit card, that is called your credit utilization. And when it comes to any credit card, there is always a credit limit. Experts recommend you keep your credit limit as low as you can – usually only using around 30% or less. This way, you can keep your credit utilization low!

The best way to do this is by continuously making payments to your credit balance. Every time you make a payment towards your credit balance, the credit card company sends this report to the major credit bureaus that calculate your score. If the credit bureaus see that you are paying off your credit balance and staying below your limit, your credit score will increase! You can either pay off your credit balance all at once or make several payments throughout the month.

2. Examine Your Credit Report

The next thing you need to do if you have bad credit is examine your credit report. How can you expect to improve your credit score if you’ve never really examined your credit report? Find out if you are eligible to get a free credit report that you can look at. Doing this can help you understand your credit better and even see if there are any mistakes. And if there are any mistakes, you can report the errors and get your credit score raised!

3. Make Your Payments On Time

The best way to raise your credit score is to make sure you make your bill payments on time. Doing any of these other tips will be for nothing if you are late with your bill payments. Remember, a late bill payment can stay on your credit report for close to seven years! So you have to make sure you are on time with your payments as much as you can. If you do pay late, call the creditor and ask if they’d be willing to no longer report the late payment to the credit bureaus.

4. Build Up Your Credit File

You can’t expect to fix your bad credit if you don’t have enough to report to the major credit bureaus. You should work on getting some credit-building loans or using secured credit cards. Of course you might feel apprehensive opening up an account while you still have poor credit, but having these open accounts can actually help you out. The trick is to keep these accounts active and make sure to make the payments on time. Over time you will start seeing your credit actually improve!

Worried About Your Credit? Get Title Loans For Bad Credit

While these options can help you raise your credit score, you might need a loan while you still have poor credit. While getting a bank loan with bad credit can be difficult, you can still get title loans for bad credit from us at Southwest Title Loans. When you take out a car title loan, we place a lien on your vehicle until the loan is paid off. And if you are approved, you can get the money as soon as today! Go to our website and fill out the online form to learn more about how Southwest Title Loans can help.

Start Working On Your Bad Credit Right Now

As you can see, dealing with bad credit doesn’t have to be as difficult as you may have seemed. With the right tips on hand and some work, you can actually raise your credit score! And remember, if you really find yourself in a bind and need a loan, you don’t have to worry about your bad credit getting in the way. You can still get bad credit title loans to help you out. If you are ready to begin, go to our website now to fill out the online form!

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.