TLDR: A simple step you can take TODAY, to help with your credit
Have you ever noticed how the necessities in life are some of the most soul-grindingly awful? Paying taxes, working a job we may not like or looking at our credit reports?
Credit is not a sexy thing, an exciting thing, even an interesting thing, but it’s as necessary as breathing in this country if you have financial goals and don’t have bucket loads of cash. You want to start a business? Loan. You want to buy a house? Loan. You want a car? Loan.
Most of the major accomplishments that go along with being a productive member of society involve credit. And credit is something that not many people know a whole lot about. It’s like those taxes, necessary, but no fun. And since that is a general sentiment, there just aren’t that many resources regarding it.
We want to share a few things that may be hindering your credit, and give you a major step you can take to get yourself on the road to recovery, or on the path to that great 760+ score, where you will get approved for the best rates, for whatever you want—with justifying income proof of course—hey, they aren’t gonna hand over a Ferrari just because you’re beautiful and have good scores now are they?
So what is it that keeps most of us from staying on top of our credit?
Fear — If asked to provide your credit score right now, would you be embarrassed? Would you have no idea? If so, most of this ignorance or embarrassment stems from not understanding how credit works, and that keeps a lot of people from having any idea what’s going on with their reports. Even if you get to a situation where you have great credit, do you, can you, maintain it?
Many think credit is something you get and then you have it, but credit is an ever-moving thing.
Perhaps the best analogy is going to the gym. If you spend six months, a year, working out hard and eating right, you’ll look great, but quit those workouts, stuff yourself with twinkies and cheetos for a month, and all those gains disappear like snow under the sun.
Credit is something that, while not needing constant attention, does require you to check in from time to time—to make sure no one is abusing it, to make sure something hasn’t popped up that will cause problems down the line.
We know, we know, you’re wondering when the sales pitch is coming in. Buy credit repair! Buy authorized user tradelines to boost your score! Buy what we are selling! No. We only want to share this simple tip.
The best plans have specific action items paired with a mental practice of non-attachment to outcome.
This way you won’t get pissed when you spend a bunch of money on something that doesn’t do what you think it will do, or what you’re told it will do. But you know what…you lose money and it’s almost a guarantee that you don’t make that mistake again, and that anger or disappointment will lead you to dig deeper. You will understand more. You will develop confidence.
The first part of the plan that you can take actual action on: sign up for Credit Karma. (Or some monitoring website)
There are better sites, but Credit Karma is free, and it updates weekly. This site and other monitoring services provide notification if you have new activity on your report. If there is an activity that you don’t recognize, you NEED to know about it as soon as possible.
If you want to know more in-depth about how to get your credit in great shape, please reach out to us.
We don’t charge anything for a consultation. It literally cannot hurt and you will come away with a roadmap of what you need to do to set yourself either on the path of recovery or developing that stellar score in the 700 and 800 range and beyond.
And Remember the non-negotiables of great credit: Pay your bills on time, keep utilization under 10% (or pay off card statements monthly).