I’ve done everything I think I can…why isn’t my credit score improving?

Your credit score is affected by many things. Unfortunately, when you are trying to improve your credit score, impatience can creep in.

Do the positive things

Paying bills on time should be paramount in your efforts. Paying off old and bad debt is an extremely close second.

The other thing to do, when your finances and you are ready, is to open a new line of credit. When we say this, we mean a safe line of credit. A secured credit card is one option. If you have a secured MasterCard, it would be a good idea to open a secured credit card that is a Visa.

Avoid the negative setbacks

Applying for multiple credit accounts can knock your credit score down. So, if you are wanting to raise your credit score, avoid large scale purchases like cars or a new home.

Another issue is changing your spending habits on your credit card. This is when you’ve placed a utility and another monthly expense on your card for the last few months, but now you add another. This increase shifts your spending habits and could impact your credit score.

Don’t change from paying off your credit card bill each month. If you go from paying your credit card bill fully each month to making only the minimum monthly payment, it could impact your credit score.

Finally, don’t give up

It is difficult when you are doing the right things and not see your credit score move. Sometimes doing everything positive takes months, if not years, to see a lot of positive growth.

If you need more help, First Choice is there for you. Contact us today for any questions you might have.

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