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Your credit history and scores can impact your entire life. Whether or not you can get a loan—and at what interest—often depends on your credit. Credit can also play a role in whether you can rent the apartment you want, get a credit card for use in daily life or enjoy a great deal on car insurance. Good credit improves your chances at these things, while bad credit decreases them.
It’s important to stay on top of your credit report and work to repair your credit when problems arise. You don’t have to pay a fortune to do that, though. Find out more about free credit repair for low-income families and individuals below.
The first step in repairing your credit is understanding where you stand and what might be affecting your credit score. One way to get free credit report help is sign up with Credit.com to view your free credit report card. This free tool:
You can get more details about your current credit situation by getting a copy of your credit reports. You’ll want to get a copy of your report with each of the three major credit bureaus, as the information in each file can be different. Here are some ways to get your credit reports for free:
Credit scores and reports aren’t the same thing. Your free credit report through AnnualCreditReport.com, for example, doesn’t come with a credit score. Getting your credit score in addition to your report gives you a fuller picture of your credit performance and helps you understand how much work you may have to do. Here are some ways you might be able to see your credit score for free:
When it comes to free credit repair and report help, consumer credit sites are a great resource. You can browse blogs, articles, and how-to tips on these sites to better understand how you can move forward positively with your finances. Some sites to consider include:
After educating yourself about what’s in your credit report, where your score stands and what your rights as a consumer are, you can take action on DIY credit repair. This involves disputing inaccurate information on your credit reports. The process includes:
If all the information on your credit report is accurate and you’ve done everything else you can to repair your credit, you may simply need to pay down some debt. If your credit utilization is too high, it can significantly impact your score. The Consumer Financial Protection Bureau recommends keeping credit utilization under 30% for the best results.
Not sure how to pay down your debt or get hold of your current financial situation? Working with a reputable, certified credit counselor might help. These organizations provide education and assistance in setting up budgets, managing bills, and understanding what you can do to create a healthier financial picture for you and your family. Check into organizations such as the National Foundation for Credit Counseling to see if there’s a free credit advisor or credit counselor in your area.
If you can’t afford to substantially lower the debt on your revolving credit accounts to reduce credit utilization, you might consider asking for a credit limit increase. If you have decent credit and have been with a credit card company for a while, they may honor this request.
That automatically decreases your credit utilization percentage, which might offer a temporary positive impact on your credit score, as long as you don’t use this credit. If you can, try not to think of it as available credit, because if you use your new available credit, you lose the advantage of getting more credit in the first place.
It’s always a good time to start working on your credit. Choose one or more of these free credit repair tips and get started today.
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