Expert Tips on Improving Your Credit Standing
Our team understands how important a good credit score is. It allows you to make big-ticket purchases like cars and real estate, sometimes for more reasonable rates. That’s why we work closely with you to provide sound legal advice on dealing with your financial issues. These are some ways you can ensure that your credit score stays in good standing.
Attaining and Maintaining a Good Score
Credit scores are what lenders look at to see how likely you can repay them if you avail a loan or credit card. A higher score means you can qualify for more favorable terms. To achieve this, you should:
Properly Increasing Your Credit Utilization
Your credit utilization rate (CUR) is one metric that is used to compute your credit score. It is the amount you owe divided by your credit limit. If you have a $20,000 limit spread across four credit cards and $5,000 charged to one, then your CUR is 25 percent. Maintaining a good credit score means:
Building Credit Without a Credit Card
Some people have credit scores that are too low for a credit card. Nonetheless, there are other ways to improving your credit standing. These include:
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You can trust our legal experts to help find ways to rebuild and improve your low credit score. Reach out to our team for a free review of your financial situation.