Blog

Our Financial Planner in Santa Rosa Explains Our Tips to Increase Your Credit Score

//
Posted By
/
Comment0
/
Categories

Your credit scores can impact the level of interest you pay as well as the loan options available to you in the long-term. It’s important that you work with your local financial planner in Santa Rosa to increase your credit score and take control of your finances. In this latest post, we’ll explain how to increase your credit score.

Ensure credit scores are accurate

You can find out your credit score directly by asking for reports from the major companies. The companies must legally provide you with a free copy of your credit report once per year. When reviewing the report, make sure there are no questionable details on them and that your information is accurate to-date.

Create payment alerts and manage late payments

One of the leading causes of a low credit level is late payments on your report. You might have simply forgotten to pay for a credit card bill or you might not have had the resources to pay at that time. It’s important that you take the time to create payment alerts so you know when your payments are due. You should also work with a financial planner in Santa Rosa to manage any current late payments or debts you have on your credit reports.

Begin on a repayment strategy

With the information on hand concerning past debts and damaged credit, you can now begin on a repayment plan for paying off your debts. Make sure that you look at all the options for managing debt levels, including bankruptcy protection and debt consolidation. Your financial planner can help you work with the financial institutions to help organize your income according to your debts and help you recover your finances over a shorter period of time.

Open a secured credit card

Another great option to begin building credit with financial institutions is to open a secured credit card. The money used on the card is secured through payments made by you from your checking account and other resources. This can be a great way to show financial institutions you’re creditworthy and will ensure you rebuild your credit history from a strong foundation.

Speak to a financial planner in Santa Rosa today to learn more about your credit building options. Our team can offer guidance that supports your financial needs long into the future.