Five small steps you can take to make a difference
Things happen. Bad things happen to good people all of the time. Health care expenses, job loss, broken down cars…all things that lead to bills getting put on the back burner.
First things first, if you need a loan but can’t get one because of your score, talk to us at the Ashland Community Credit Union. You’ll find more favorable terms. More information on why, here.
In the meantime, you’ll want to work on raising your credit score. The likely solutions include making more money to pay them off earlier. Or passing on the debt in the first place.
Other than suddenly paying your bills on time, there are things you can do that may help. Here are five things you might want to try to help raise your credit score.
- Increase credit limits: This seems counterintuitive, but raising your credit limit actually lowers your credit utilization ratio. How much of your available debt you are using matters.
- Become an authorized user: Is there a family member or friend with good credit who would add you as a user on their account? Their positive behavior can reflect on your score.
- Negotiate: If you can, agree to pay off your debt in full if they will delete your record from your credit report. All you can do is ask!
- Keep old accounts open: Keep those in good standing open, instead of closing them. The positive scores can help.
- Be selective: Multiple credit applications may lower your score. Do a bit of research first to see how likely you’ll be to get approved. At the Ashland Community Credit Union, we want to give you a loan unless you can talk us out of it. So, come see us before crossing your fingers elsewhere.
While some things are out of your control, it’s important to pay attention to the things you can affect. Try these potential solutions and see if it makes a difference.
And don’t forget, if you have a lower credit score, the Ashland Community Credit Union wants to help you with lower interest rates, and easier credit terms. You can call us at 419-289-4142 or contact us to learn more.