How can I improve my credit score?*

April 26th, 2012 02:57



In addition to not paying your bills on time, there are other factors that can lower your credit score. If you are at or very near your credit limit on your credit card(s), or if you have multiple revolving credit accounts (like department store or gas credit accounts), your credit can suffer. Creditors also look at your employment record to see if you’ve switched jobs frequently or if you’ve maintained steady employment. These days, many people have late mortgage payments, a short sale or a foreclosure weighing down their credit score. If you have any of those issues to contend with, it doesn’t automatically mean you can’t apply for a loan; call me and we’ll discuss what I can do for you.

Although there are no quick fixes when it comes to improving your credit score, you can take steps to rebuild your score over time:

  1. Continue paying your bills on time — your payment history matters.
  2. Don’t max out your cards or even run the balances up high.
  3. Hold off on applying for new credit or cancelling an old card, since length of credit helps.
  4. Pay down high balances, but don’t just transfer debts among several lenders.
  5. Settle any collections or past due accounts that you possibly can.
  6. Dispute and resolve any inaccurate items in your credit report. The last two years of your credit history are the most important.



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W.J. Bradley Mortgage Capital, LLC is a privately held independent mortgage lending firm, founded in 2003 and headquartered in Centennial, Colorado. We are a boutique lender, backed by private... Read More


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