In my younger days was when it started. A few unpaid bills and small loans that I took out made my credit history poor.
At the time I was none the wiser until I wanted to do adult things. I had big plans but no way was I going to let my credit score get in the way.
I knew I had to buckle up and me having good credit was going to be a big deal. If I was going to apply for a mortgage or loan for my new business my credit score mattered.
So about June 2015 my friend told me about this free website Credit Sesame. From that site I learned about the state of my credit.
My credit score was nothing to boast about and to be honest it was a bit shameful.
But thanks to Credit Sesame and all the useful advice it gave to me I was able to jump from a low 500 score to 752. I break down how I did that below.
You really do not have to wait months or years. At least not in my case.
Through Credit Sesame I had easy access to my credit report. From there I looked at what was on my credit report and was given guidance as to what I could do right then to change, correct and challenge anything that affected my score.
Credit Sesame gave me actionable steps that I could take.
I found that there were things that were reported incorrectly. For example, there were some old medical bills that I paid off a long time ago, but were still being reported on my credit report.
Credit Sesame showed me where I had negative marks that lowered my credit score and told me exactly what I could do to remove the marks.
I knew they got their information from TransUnion so what I did was go directly to TransUnion, follow their process and get them to clear the bad reports on my history. It was a pretty easy task.
Credit Sesame also shares my information like a school report card. So it's quite easy to know how my history is ranked. You get a mark from A to F.
It gave me a score on my payment history, credit utilization, credit age and credit inquiries. It also explained what each one was which is great if you don't understand all the financial jargon.
When I saw the bad marks I simply worked to remove each one and I also paid off any outstanding debts.
I also realised that not having a credit card was affecting my score. So I simply followed the advice recommended by Credit Sesame and obtained a secured credit card with a deposit of $500 and used that only for small purchases like groceries and made sure to pay it off in full each month.
Here's all the ways that the Credit Sesame app was able to help me:
This is the most basic thing that the app offers.
So once you have signed up to the app and log in it gives your score in bold. It is also color coded so it's not hard to understand what your score means. So you might have an excellent credit score which is green, a fair credit score which is yellow or a poor credit score which is red.
It doesn't stop there. It breaks down your score from A-F and explains everything from whether you have any negative marks, what those negative marks are, whether you have any late payments and what you can do about each and everyone of them.
So basically it tells me exactly what affects my credit score.
I was also able to see my total debt.
They break this down into credit cards, auto loans, student loans, home loans and other loans. For each loan type I get to see who the provider is, the amount owed and any monthly payments I'm making towards it.
It also calculates my overall debt, how much of my monthly income goes towards my debt and how much of my monthly income I have remaining.
Credit Sesame also gives recommendations on how I can improve my repayments so that I save more. This was helpful since everything is explained for me and it did not make it too complicated to make things right.
Credit Sesame also offers free identity theft protection. So you get $50,000 in identify theft insurance.
I mean don't work so hard to get your credit in order then for some person to come and mess it right up. This was one of the things that made me sign up immediately for Credit Sesame.
Knowing that my account was always being monitored and I'm always being alerted if anything appears unusual.
Pay off credit card balances in full. There is a myth that's going around which says that you should always leave a balance on your credit card. Do that, and you are one of your bank's best customers.
When you leave a balance on your credit card, the bank makes a profit from you as they charge you interest on your balance.
So if you can, make sure and pay off your credit card in full everytime. This saves you money and helps improve your credit score.
Always make your payments on time. Late payments obviously affect your credit score. Always try to pay the minimum payment on any credit card or loan due.
Raising my credit score was easy. I am able to watch my report everyday for free through the Credit Sesame app and was happy to see that my persistence and hard work was paying off. I so remember when I turned on my phone and opened the app and my score jumped to over 700. Insert happy dance here. LOL. My score has been at a steady 752 and I make sure to keep it that way by always monitoring it and being alert to what goes on and changes on my credit report. I know I'm on track and that's all because of Credit Sesame. If you want you can sign up for Credit Sesame here. It's free.
Dawn-Marie loves travelling, touring, cruising, arts and craft and shopping! Of course she would.
She's a big believer in sharing hacks that anyone can use to live better.