How to solve your credit problems

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Credit scores can change every day, sometimes for the better and sometimes for the worse. Every little action you take that involves credit will change your score. Sometimes your credit score can take a big hit if something goes wrong, but you can always fix your credit problems.

How can I repair my credit myself?

There are many things you can do to improve your credit. If you want to improve your credit in about 30 days, you probably won’t see a big difference. However, that doesn’t mean it won’t improve over time. – it just takes time and dedication. If you are unsure of where to start your credit fixing journey, we suggest you start with these three actions:

  1. Be up to date on payments – Your FICO credit score is determined by several factors, the most important of which is your payment history (accounting for 35% of it). If your credit score is low due to missed payments or multiple defaults on your credit reports, the first step in credit repair is to be up to date with every payment, and then continue paying all of your bills. time every month.
  2. Reduce your debt – The second most important factor that makes up your FICO credit score is the amount owed. A lot of that relates to your credit utilization rate or your credit card balances against their limits. If your credit utilization rate is over 30%, it negatively impacts your credit score. So, work on reducing your credit card balances and your score may improve.
  3. Have a credit mix – Successfully managing both revolving credit (like credit cards) and installment credit (like loans) helps your score. It might seem counterintuitive, but getting another credit card can boost your credit score by increasing your available credit and lowering your credit utilization rate. If you don’t qualify for a credit card from a bank, a store credit card may work just as well. Make sure to monitor your spending habits and pay off the balance every month.

How to dispute a credit?

Entries like late payments stay on your credit reports up to seven years. The only way to delete something like this before this time is if it is inaccurate. If you believe that a negative rating on your credit report is an error, you can dispute the error with the credit bureau (s) that reported it.

To start this process, you must submit a dispute, electronically or in writing, to the credit bureau (s) and provide documentation that supports your claim. If there is more than one error, be sure to list them and provide proof for each claim.

From there, the credit bureau should investigate your dispute (s). They have 30 days to complete the investigation and send you a letter explaining their decision and any action that will take place. If the credit bureau does not respond to you within 30 days, the negative score (s) are automatically removed from your credit reports.

The bottom line

You don’t need to go to a credit repair service to sort out your credit problems, although these places can help if you are feeling overwhelmed. You can repair them yourself over time. Remember, your credit won’t improve overnight – it can take anywhere from a few months to a few years to rebuild your credit, depending on your current score.

If you want to improve your credit and need a vehicle, Auto Express Credit can help you find financing even if you have credit problems. We work with an extensive network of special finance dealers across the country who are registered with a wide range of lenders who know how to help borrowers with credit. Get started today by completing our online car loan application form.


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