Updated: Dec 14, 2018
Obtaining Excellent Credit is Easy! It's the Maintaining of Excellent Credit that is the Kicker!
With 2019 just around the corner, there are many of people who are in the process of creating vision boards, resolutions, life plans, and anything else that can be used as a guiding force for a better upcoming year.
Here are 10 of my Top Steps for Mastering Excellent Credit
1. Change (Fix) Your Mindset, Change (Fix) Your Credit Score - it will take hard work, consistency, determination, and perseverance. But it can be done, and it will be worth it once you get there.
2. Actively Monitor Your Credit Score - check it regularly, subscribe to a monthly monitoring service. Remember, when it's free - you get what you pay for!
3. Pay ALL Bills on Time - your payment history is the largest (35%) measuring factor of your credit score. Which means this is the most important area to focus on.
4. Invest in a Bill Organizer/Reminder System - participate in calendar pop-ups/reminders. Stay ahead of the game.
5. Create a Budget & Commit to Using It - written or electronic , it doesn't matter. It is a needed investment. You have to see what are there, what money is needed, and what most importantly what money is available. Know where your money is going.
6. Debt to Income Ratio at NO More than 30% - your DTI ratio makes up 30% of your credit score. It is the second largest largest scoring factor of your credit wellness.
7. Dispute Inaccuracies - after the statute of limitations have run out on a debt, it is often better for you to have the debt removed from your credit report.
8. Speak Positive_Stay Positive_Live Positive - focus on seeing your Excellent Credit Score! Speak life into your credit score every single day. The power of your increased score is first in Your Mind, then in Your Words, Thoughts, and Actions!
9. Do Not Apply for New Credit - the biggest mistake made is applying for new credit while in the process of increasing your credit score. The inquiries will cause more damage to your score. Once you have reached a credit score level that is acceptable, then and only then should you apply for the correct type of credit.
10. Make it FUN - when it's fun you look forward to improving your credit. Invite family and friends to participate with you