Thanksgiving is coming up fast and so is the time for celebrating. However, if you have a bad credit score, it is easy to feel like you do not have much to be thankful for. Don’t fret. You can totally have your credit back on track in time for the holidays. Indeed, there are several ways to noticeably improve bad credit in very little time.
Follow these steps and you will have a great shot at having better credit by Thanksgiving.
- Order your credit report and look for mistakes.
The first step toward fixing a bad credit score is to identify the problem. Order a copy of your credit report from the rating agencies. Unlike a credit score, a credit report will thoroughly list all of your outstanding debts, your credit score, and the reasons why your credit score has issues. You get one free report a year, so don’t waste it by not even looking.
For an example, it could show you have missed payments on a car loan or have maxed out a credit card. Take the time to closely review all these negative accounts. Is there anything you don’t recognize or shouldn’t be there? Credit agencies make mistakes pretty regularly, so it’s possible there is incorrect information lowering your credit score unnecessarily. If so, follow the required protocol and contact the agencies to request the problem to be fixed. They should be able to fix your score just in time for Thanksgiving. If you don’t have the time to devote to fixing the mistakes (sometimes it a little more complicated than a simple request), reach out to ASAP Credit Repair and we’ll take over from here.
2. Make all your upcoming payments on time.
On-time minimum credit payments are the key to a good credit score. If you make all your payments on time, your score goes up, but missing even one payment can send your score plummeting. Make it a goal to make every single payment on time by Thanksgiving. Autopay is your friend! Every month you follow this good credit habit, your score will show improvement. You can do it!
3. Pay down what you can.
Another way to repair your credit score quickly is to pay down your credit card balances. A big part of your credit score depends on how close you are to maxing out your accounts. If your balances are too high, it negatively impacts your score. You want to stay below 30% credit usage. Take whatever extra money you have on hand and pay down as much of your debt as you can. Focus on cards that are closest to their limit. The rating agencies will see you have less outstanding debt and this will help raise your score by Thanksgiving.
4. Avoid excess holiday spending.
When the holidays come around, it’s suuuper easy to get carried away with spending. Between preparing family dinners, traveling around the country, and buying presents galore, you can quickly spend a fortune. All of this spending adds up to more money that could have paid down your accounts AND more debt on your credit card. This won’t fix your credit problem. Instead, plan to spend less this year so you can focus on improving your credit. Trust us, it’ll work out better for you in the end.
If you are serious about fixing your credit, it’s possible to take big steps forward by Thanksgiving and see a huge improvement. Follow the advice in this guide and you will be on track to finish the year with a much better credit score. If you need some extra help sorting through your credit mess, call ASAP Credit Repair. We can get you through it!