In the previous post, I have discussed with you regarding the common ways to rebuild your credit. Now in this post we will continue the discussion to its end.
Please read below for few more tips:
6) Avoid closing credit card accounts – You have managed your payment history to a good level. Next, you need to focus on your credit amount. First you may pay off your debts as soon as possible. Do not close any existing credit card account. The amount you are payable to the credit card company is a percentage of your total amount of credit. But do not open lots of credit accounts within a short timeframe. It will not increase your available credit but can hurt your credit score very badly instead.
7) Don’t close old credit cards – Closing the cards which you are maintaining since a long time, can hurt the length of your credit history. If you possess a card which have an annual fee, ask your credit card company to switch the card status from “with fee” to “without fee” status card instead.
8) Avoid any new credit creation – If you start looking for a new credit, it will surely can damage your credit score. If you require an urgent loan, you need to make it quick. Get your loan within a stipulated time. A search for a single loan for short period of time.
9) Ask credit bureau to freeze on your credit – It will be required to saving your credit from possible identity theft. So, you must consider asking each credit bureau for a security freeze. This will prevent you to get a new line of credit, until you ask them again to unfreeze your account. It is normally gets more effective than any other temporary alert. Freezing your credit can cost you $10 or less per bureau depending on your state. It will cost you another $10 to unfreeze it. If you think that credit freeze won’t be helpful for you, you might also go for buying more comprehensive identity theft protection service.
10) Don’t forget to monitor your score – You can avail a free copy of your credit score. Apart from that, you can get other important and potentially convenient tools which may assist you to track and monitor your score. There are several sites which can do the trick for you, especially names like quizzle.com, creditsesame.com and creditkarma.com.