How to build perfect credit
Building a perfect credit profile is a little like losing weight or lowering cholesterol. You need to do the right things for long-term effect. It can take 3-6 months, up to a year even to "get there". If we need to do it quickly I can prescribe a crash diet. We can often do amazing things - in as little as 5 days!
How to build a perfect credit profile
1. Removal of derogatory items that depress your credit score long-term
2. Maintain good credit habits
3. Add tradelines if needed
1. Removal of derogatory items
Contacting creditors to challenge, settle and/or pay off debts may be an honorable thing to do, but it is usually NOT the correct first step! The negative effect of an old collection is OFTEN LESS than the negative effect of a recent update, or paid collection. Also, debts may have already been written off, or creditors can be compelled to do so! Contact me for a quick review before you do anything!
2. Good credit habits
It is simple:
1. Pay bills on time :)). If you slip up, request a goodwill adjustment right away.
2. Apply only for credit you really want. Too many applications will depress your score.
3. Do not close accounts unless you have a good reason. It reduces the credit history.
4. Keep card balances below 50% of the limits at all times. You earn points that way.
5. Have at least 4 tradelines
3. Add tradelines if needed
Make sure you have at least 4 tradelines.
- If your score is good, you can get a credit card here. (If you have any doubt about getting approved, go for a secured credit card (See below).
- If your score is low, request a VISA Secured Credit Card - 0% APR (guaranteed approval).
- If you need a second secured credit card get a Silver Prepaid MasterCard card (guaranteed approval).
- If you need more than two guaranteed secured credit cards, contact me first.
- If you have any doubt at all - go for the secured credit cards!
Get Mortgage Ready
We can do amazing things.... I do this for all mortgage applications to secure approval and/or secure approval on the best possible terms. We can often achieve drastic score improvements. We can get you Mortgage Ready in as little as 5-9 days!
Contact me by email, or call me at 800-405-0676
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