Making your credit payments on time is one of the biggest contributing factors to your credit scores. Some banks offer payment reminders through their online banking portals that can send you an email or text message reminding you when a payment is due. You could also consider enrolling in automatic payments through your credit card and loan providers to have payments automatically debited from your bank account, but this only makes the minimum payment on your credit cards and does not help instill a sense of money management.

Your credit score is a numerical reflection of all of the financial information contained in your credit report. Credit reports come from one of three credit bureaus: Equifax, Experian, and Transunion. Creditors and other companies send in financial information related to you and other consumers to help build an accurate representation of your creditworthiness.

New credit tips: Re-establish your credit history if you have had problems: opening new accounts responsibly and paying them off on time will raise your credit score in the long term.

Free Training Reveals…. “Secrets To Easily Creating A Profitable Credit Repair Business WithOUT having any prior experience with credit repair!”

YOU’LL LEARN THESE 3 SECRETS:

– How to find people who are more than willing to pay you, and land your first client within 24 hours, even if you have ZERO experience. . .
– How to use our step-by-step “Dispute Process Blueprint” to get EASY Credit Repair Results without being a credit expert. . .
– How to scale using our easy-to-follow process to bring in a flood of new customers, without paying for advertising. . . Credit restoration cost.

Collections are complicated because paying them off may actually end up hurting your credit score by resetting the start date from when it was reported. Before taking action on collections, read on to find out how to navigate these murky waters. Like charge-offs, collection accounts may be reported for up to seven years from the date you first fell behind with the original creditor.

Don’t Close Unused Credit Card Accounts – The age of your credit history matters, and a longer history is better. If you must close credit accounts, close newer ones. Be Careful Paying Off Old Debts – If a debt is “charged off” by the creditor, it means they do not expect further payments. If you make a payment on a charged off account, it reactivates the debt and lowers your credit score. This often happens when collection agencies are involved.