5 Simple Ways To Improve Credit Score – Mortgage Brokers Edmonton
Often times people think that their credit score is perfect, untarnished and in good standing. Well creditors can be unforgiving sometimes and for whatever reason you may have missed a payment which can in turn bruise your credit. Here are some ways that help you keep on top of your credit.
- Check your credit on regular basis. Your inquiry should not affect your credit score. By doing this you will be able keep a tab of your credit score and monitor any fraudulent activity such as identity theft.
- Get a credit card to establish or re-establish your credit. If you are applying for new credit card get one that will have a minimum limit of $2,000. If you are re-establishing credit then get a pre-paid credit card. This will show as revolving credit and allow you to improve your credit rating.
- Get a loan to improve your credit. For example a car loan which is considered as revolving credit shows to the lenders that you are capable of managing debt. These are considered to be installment loans.
- Pay Down credit cards as fast as you can. this will drastically improve your credit score in a shorter period of time.
- Credit correction. If you have had a collection, late payment or even bankruptcy; based on the infraction, they should fall off after a certain period of time.
At Western Direct Financial Mortgages we help you back to the road of recovery. Contact us for a free no obligation consultation.