A strong credit score is key to securing mortgages and other loans because it assures lenders you can pay back the debt. If your score is below 700, or if you’re just starting to build credit, you’ll want to take the proper steps to increase your score. There are many easy ways you can start, including using credit services, and the helpful guide below will give you ideas to get started.

How to Increase Your Credit Score

1. Cut Down on Debt

Your current debt has a 30% impact on your credit score, and you’ll want to start cutting it down. It is important not to move debt around. Instead, set up a payment plan for each credit card or outstanding debt. Dedicate extra money each month on top of the required payments, or a large one-time payment to begin trimming the debt you carry. There are many credit services to explore if you need a hand organizing at the beginning.

2. Review Your Credit Report

Lenders may have made reports in error that are negatively impacting your credit score. Ask your bank or another financial service for a copy of your credit report and look for inconsistencies. Random inquiries into your credit, for example, can lower the score. There may also be false collection reports or false missed payments. If anything is suspicious, contact the lender or financial institution to resolve the problem.

3. Pay on Time

Paying on time is the greatest contributor to your credit score because it shows lenders that they can count on you. Setting up an auto-pay system for your credit cards, mortgage, student loans, and other debts will ensure you never miss monthly payments. This debt management strategy is certain to increase your score while also strategically cutting down on your debt.

If you need assistance with credit services, the team at 1st Financial Credit Solution, LLC will carefully assess your financial needs and then build a custom plan to help with debt management. They’ve helped countless residents of York, PA, achieve debt relief. Call (888) 523-0808 to schedule a consultation. You can learn more about the company on their website.