MODULE 5
3. Improving Your Score
Getting Down to Business
Get a copy of your credit report from one of the following: Experian, Equifax, or TransUnion. This is totally free!
Find and dispute errors on your report. If you find anything wrong, report them to the credit unions and use any documentation you have in your defense.
Pay off any debt in collections. This should be a priority, because it can have a severe effect on your credit score.
Automate all of your bills. This is the best way to ensure you don’t miss any more payments! And as payment history is the biggest component on your credit profile, it can make a big difference.
Keep your credit card balances low. Check how much of your credit you’re actually using, and aim to stay far away from your credit limit.
Establish a good credit mix. It looks great to have a variety of well managed accounts!
Your Challenge for This Week…
Use page 15 of your workbook to hold yourself accountable. Aim to check off every box on your checklist this week. Establishing good credit is a vital part of your journey to financial wellness! And now that you are aware of what goes into your credit score and equipped to improve it, you have no more excuses!