By Rochelle Belnap, The AZCLG
It’s fall, and that means it’s time to evaluate your 2014 goals. If one of them is to improve your credit, there is still time! Don’t let your credit score haunt you! (It’s Halloween – get it? wink wink)
How do you know if you have good credit. A great score is above 750, but you can reach the first step to good credit just by getting to 580! Did you know you can qualify for mortgage financing with a 580 credit score? Yep.
If you are a little low, or if you just want to get to “good credit” standing here are the 3 fastest ways to do it.
- Pay down your credit card debt to less than 30% of the credit limit.
- Make sure you have Installment Loans (aka car loans, personal lines of credit) and Revolving Debt (aka credit cards).
- Resolve your unpaid collections.
That’s it! By resolving your unpaid collections that means making sure you owe the debt, settling the balance if you are liable, and making sure the credit bureaus update the account information on your credit report.
You might not even have to do all three to get 580!
Good luck, you can do this!
Thanks for reading!