It all begins with getting a copy of your credit reports.
There are a few ways you can get started on your own when it comes to your credit.
Get a Copy From All 3 Agencies
Checking your own credit does not hurt your credit score at all. That's why we encourage our clients to check their credit scores and get copies of all 3 reports. You can do so by clicking on each of the links below:
Look it over for accuracy
Here are the main things to look for on your credit report:
Personal Information - make sure your name is correctly spelled, your addresses are correct and your social security number is right.
Employment history - review the list of current and previous employers and make note if anything is not correct.
Credit history - check the account numbers, payment history, limits and holdings to make sure everything listed is yours.
Public records - if you have anything listed here, make sure it is accurate and your information is correct.
Credit inquiries - make sure any inquiries, like applying for credit cards, loans, etc - are correct and not fraudulent.
Look at your payment history and credit utilization
Here are two credit factors that can have an impact. They are utilization and length of credit history. Closing an old account could impact one or both of those factors when it comes to calculating your score.
Your credit utilization could drop after closing an account because your credit limit will likely be lower. Since utilization represents all of your balances divided by your total credit limit, your utilization will go up if your credit limit goes down (and if your balances stay the same).
Your length of credit history could be lowered if you close an older account that is raising the average age of your credit.
Some people worry that having a zero balance on their credit card can have a negative impact on their score. This is just a myth when it comes to your credit. A zero balance means you aren’t using the card to make any purchases. Keeping the credit card open and not using it actually works to your benefit. It helps extend the length of your credit history, while not risking the chance of debt or late payments. Win Win!
These are just some of the tips and tricks to help you get started with making fixes. Knowledge is power when it comes to your credit so make sure you know what to look for and what you can change to make things better.