03/08/2022
This is what’s needed to build up your credit scores.
Credit scores ranges from 300-850, you have TOTAL control of 550 points.
You definitely need 2 cc, (cap one, open sky) short term loan (credit strong, self) . Pay on time before time. Especially with cc 2 days before statement/ closing date,pay down under 10% and remaining by due date. Payment history is 35%, utilization is 30% of a credit score.
Build a relationship with a local credit union or navy 3-6 months. If you need a vehicle go through the credit union for financing of car loan, cc, personal loan. Since they will pull your credit anyway make it worth while 😉 then close the open sky card.
Also work on cleaning up the collections and other dregatory items that maybe reporting. A lot of times just because of low scores doesn’t necessarily mean you have bad credit, it just needs building. By using the mentioned methods many will hit 700s within 6-12 months.
Number one ☝️ reason why people have low scores is because they’re not budgeting.
20% of your income to pay yourself first.
30% flexible expenses ( clubbing, smoking)
50% fixed expenses (rent, car note, utilities)
If you’re outside these percentages your living above your means.
If you need help comment me.
I have dispute letters and digital budgeting system (excel)
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