Thank you Lexington Law Firm for sponsoring this post. A high service partner and consumer advocate that will help you fight for the credit you deserve!
Hey friends! I haven’t written a personal finance post in quite some time, but I have a super helpful one for you today. 🙂
Some of you probably know that my husband and I recently purchased our first home. We’re so happy here but to be honest, it wasn’t an easy process. There was one thing that made things difficult for us and I feel like it’s something that a lot of young adults and people of any age struggle with today: credit.
My biggest financial goal for 2019 is to build my credit. Improving your credit is one of the best financial goals you can have if you don’t already have good credit.
You see, I don’t have enough credit to get accepted for anything that I’ve applied for, including our home loan (and even store credit cards). We had to get our mortgage in my husband’s name because he has pretty great credit. But he doesn’t have very much credit either and it just made the whole process pretty difficult.
So many people I know struggle with credit issues and it can get in the way of things that they try to do.
There are quite a few reasons why good credit is important. It affects so many things, like:
- Car loans
- Monthly bills
- Job opportunities
- Starting a business
- Interest rates
And there are even more reasons why you might have a low credit score. Things like:
- Late payments
- Not making payments
- Defaulting on a loan
- Filing bankruptcy
- High credit card balances
- Errors on your credit report
Every year, millions of Americans are denied loans for homes and cars because of errors on their credit reports and it takes an average of four months to correct these errors. So, having someone to advocate for you and help correct these errors can be super helpful.
If you want to fix your credit score, the best first step to take is to simply see if you have errors on your report that need to be fixed.
But there’s good news! There’s an easy way to get rid of the errors on your credit report using Lexington Law Firm.
The credit repair industry has grown A LOT in recent years, creating a lot of conflicting information. It’s important that people know that credit report errors can and need to be fixed.
Lexington Law believes that you have the right to a fair and accurate credit report. They can help you with your credit repair process by using the power of knowledge and the law to fight for your right to good credit.
Lexington Law is the oldest and most respected name in credit repair. They’re the only professionals in the category with the legal experience and technology to advocate and get results for their clients. They have long-standing relationships with Equifax, Experian, and TransUnion. They’re also CROA (Consumer Credit Protection Act) compliant, which means that they’re regulated with auditors and regulators.
Just like you’d hire an accountant to handle your taxes or a doctor to check your health, you can trust Lexington Law Firm to help you repair your credit.
Lexington Law Firm offers packages that meet every client’s needs, starting at just $24.95 per month!
And here are 5 other things you can do to improve your credit score:
- Pay your bills on time // Making sure you pay your monthly bills on time is a simple way to improve your credit score, but it’s a big one. It’s a big thing that lenders look at when they check your credit score. So make sure you’re paying your bills on time – not just on loans but also your rent, utilities, internet bill, and everything else.
- Open a secured credit card // A secured credit card is a card where you make a deposit into a checking account that secures the line of credit the lender is extending you. So if you open a checking account and put $300 in it, the lender gives you $300 on the card. This is great because you’re basically paying off the credit before you even use it. You can get a secured card if you have bad credit and it can go a long way toward improving your score.
- Pay off your debt // Debt plays a huge roll in your credit score, so it’s a good idea to try to pay it all off. I know this is easier said than done, but there are things you can do to help. Start a side hustle, get a part-time job, and find ways to make some extra money to put toward the debt. Another helpful way to pay off your debt faster brings me to number 4…
- Set up a monthly budget // Creating and following a monthly budget can help with so many financial goals, including improving your credit. If you’re trying to pay off debt or use credit cards responsibly or making other financial changes to improve your credit, working it into a budget will help make the process easier and more effective.
- Avoid credit inquiries // Hard inquiries, like the ones that result from applying for new credit cards, are harmful to your credit score. So try to avoid applying for new credit cards unless you absolutely have to.