How To Get Rid Of Your Bad Credit In Two Months
Below is a MRR and PLR article in category Finance -> subcategory Credit.
How to Improve Your Bad Credit in Two Months
Summary:
Were you surprised when your loan application was rejected due to bad credit? Being classified as "subprime" means your credit score is below 620 on the FICO scale. While this may seem like a setback, there are lenders who specialize in helping those with subprime credit. Here's a guide to help you improve your credit in just two months.
Steps to Improve Your Credit:
1. Review Your Credit Report:
Start by checking your credit report for inaccuracies. Mistakes can negatively impact your score. If you find errors, contact the credit agency to have them corrected.
2. Know Your Credit Scores:
Obtain your credit scores from TransUnion, Experian, and Equifax. Understanding your starting point is crucial to developing a plan for improvement.
3. Pay Down Debt:
Focus on paying off existing loans, including smaller payday loans. Even minor borrowing can add up quickly ?" for instance, $20 a day totals $600 a month.
4. Use Cash for Purchases:
Opt for cash transactions to reduce credit card debt. Limit yourself to one credit card, as having multiple cards means more fees.
5. Avoid Cash Advances on Credit Cards:
The interest rates on cash advances are high. Whenever possible, pay your credit card balance in full to avoid accruing interest.
6. Create a Budget:
Compare your monthly expenses to your income. If your expenses exceed your income, make necessary cuts to avoid falling into debt, which can further harm your credit score.
By following these straightforward strategies, you can work towards improving your credit within two months.
You can find the original non-AI version of this article here: How To Get Rid Of Your Bad Credit In Two Months.
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