How Do I Repair My Credit Score

Having a bad credit score comes with a lot of challenges, including; 
  • Not getting approved for a loan, apartment, auto insurance
  • You have to put up a deposit for utility services such as electricity
  • Paying higher insurance premiums
  • Paying a high interest for loans that get approved
  Here 4 ways you can repair your credit score:
  • Make payments on time

Your credit history shows how you make payments. One way to repair your score is to pay your bills and debts on time. To help you do this;
  • Make a list of all your bills
  • Note when they are due
  • State how much each one is and how much you plan to be paying. If you cannot cover the whole amount, make sure to pay the minimum amount indicated. 
  • Create a payment system. You can have a manual or automatic or both payment systems. 
  • Dissolve any credit 

If you believe that your credit card history information is incorrect, you need to resolve it. For instance, if there is a record of late or missed payments, this could affect your score. The dispute does not affect the score; however, the results after an investigation will.    If the results prove the information was wrong, your score could go up and vice versa. 
  • Keep A Low Credit Utilization Ratio 
Specialists advise keeping the credit utilization ratio below 30%. Having it high will put you in the high-risk group and lowers your credit score. Here are some tips to keep it low:
  • Make part of the payment before the end of the month
Paying some of the bills before they are due will reduce the credit utilization ratio reflected on the report. You can also make several payments within the month. 
  • Clear your bill on the same day
You may want to take advantage of the benefits of using a credit card. Some of them include; airline miles, cash back after purchase, and discounts in specified retail shops.    To maintain a low utilization ratio, pay your bill on the same day.
  • Increase your credit limit
Another way to lower your utilization ratio is by increasing your credit limit. However, you need to maintain the level of spending; otherwise, the ratio will still go up. 
  • Buy On Credit Only When You Need To

Making most of your purchases using your credit card increases the credit utilization ratio. It also means you have more debt to pay. The credit card history will cause a decrease in your score. 
  • Get help from a credit repair company

That is where we, as Shiirs, come in. Our team is committed to helping our clients increase their credit scores. Using professionals makes it easier because they have experience in the field.