09/17/2020
The 7 Biggest Mistakes People Make When Trying to Improve Their Credit... This post could change your life. ๐
1. Not paying for 3-bureau Credit Monitoring. You can't Improve your Credit if you don't know where it's at.
2. Paying Debt Collectors - 90% of the time, this will lower your score and the negative account will remain on your credit.
3. Disputing Online - Don't even get me started. Online Disputes waive some of your rights under the FCRA.
4. Keeping High Balances on Credit Cards - 30% of your score is based on the Balances on your Credit Card Accounts - pay those down (but don't close the account)!
5. Hiring Lexington Law / CreditRepair dot com (same company) - This company has strong ties to Transunion, a Bureau that profits from your bad credit, they've got 500+ complaints with the BBB.
6. Not seeking the advice and guidance of a professional - I've never met someone who successfully repaired their credit 100% on their own without the help or training that the professionals receive.
7. Blindly Applying for Credit - Filling out a Credit Application without 1st knowing what your credit scores are, knowing what bureau(s) the creditor is going to look at and having prepared 60-90 days in advance before filling out an application.