Bad credit affects way more than not just getting that credit card you applied for. You may have to pay more for a loan. Your insurance premiums may go up. You might miss out on a great career opportunity since some states allow employers to pull consumer credit reports to make hiring decisions. You'll have a harder time renting an apartment, buying a home, or purchasing a car. That also includes utilities and the internet. And something that totally surprised me if that you won't be able to adopt a baby! I know this because my cousin and his wife adopted and they had their credit checked!
So it's time to get your credit back on track. Here are some tips to help:
Make debt payments more than once a month
Always pay bills on time
Open a secured credit card
Take out a personal loan
Do not depend on a debit card
Get credit for things you’re already doing
Become an authorized user on another person’s account
Add accounts strategically
Watch your mix of credit
Lower your credit utilization ratio by asking for a credit increase
Keep old accounts open
Review your credit report regularly and dispute errors
Find out the reasoning behind these tips HERE.
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