So maybe you’ve set your sights on buying a condo, with Watten House among the top choices. But how can you improve your credit score to have a higher chance of success? Here are four ways you can start.
Download a Free Credit Report Online
Get your current credit score by downloading the latest copy for free on the internet. There are several websites you can visit, but make sure you’re on an official credit report website. You can save the result on your computer or print it out so you have a hard copy.
Pay Down Your Card Balances
One of the best and fastest ways to improve your credit score is paying down your debts. The balance doesn’t have to be paid to zero- get each debt down to at least 30 percent and wait a while for your credit score to reflect your actions.
Do this systematically for each loan or credit card balance, or consolidate all of them into one balance so you only pay once a month and have a single due date.
Look For and Correct Credit Errors
In the small chance that you can dispute an inaccurate credit report, do so. Whether it’s a debt that has already been paid or an incorrect statement, you can send a short note on why it’s inaccurate and the correct information. Hopefully, it will get resolved in due time and improve your credit score.
Build Up Your Score with Short-Term Loans
In some cases, your credit score might be low because there’s not much activity. This is true for new graduates and those who are just starting to build their finances. The easiest way to get a boost is to apply for small loans that have short-term repayment systems, and then pay on time until the loan is fulfilled.