9 Ways to Boost to Credit Score in 2020 - CWC

1. 9 Ways to Boost Credit Score in 2020 Loan and credit would only be possible if you have a great credit score. An average score or a poor score will not open the doors of the loan. Beware of people if someone still advice you to apply for a loan. It is not easy to repair them. It is a consistent and continuous effort to improve the score. If you still manage to get the loan from poor credit score, you will get it on higher interest rates. Below are the ways through which you can raise your credit score in 2020. Let’s dive in! Be in the credit limits:This is a great way to boost the credit score. Per card and overall credit utilisation have an impact on the score. You can raise it by making some changes in the work mode. You can keep the actual balance of the account low and make small payments in a month. Keeping the balance low helps in improving it. Make the payments on time:Do not delay the payments of your bills. It can hamper the credit score. There is no other negotiation to this point. Even one single late payment will make a negative impact and hamper overall rating and report. If you are facing financial problems, try to search for an alternative plan until it becomes a disaster. Your history is always checked whenever you need a loan. Set reminders to avoid the delay in the payment: Sometimes we are so occupied in the

2. day to day work that we forgot to pay the bills and payments on time. It is better to make automatic payments from your bank account. You can also set the reminders so that you can get enough time to make the adjustments and pay the bills. Do not opt for another Credit Account:If you do not have enough money, do not open any credit account. If someone is offering a scheme to open an account, make sure you read the financial deal is good for you or not. Initially, the deal tempts you but then it may leave you in debts. Make sure you get worthy interest rates and read the fine prints carefully. Slowly decrease the Amount:It is best to make changes in the initial payments. It is a little difficult task. Avoid the use of credit cards. Review the report and pen down the accounts that are charging higher rates. After that, make a sequence which helps in paying maximum to the a/c with a high-interest rate and minimum to the lowest rate. This can slowly decrease the amount and it will show in the report. Find the inaccuracies in the report:Check the report thoroughly and find all the inaccuracies. It might be possible that you find errors in the reports. Go through each one of them. Correct all the errors in the report. It will help in improving the credit score. Highlight the actual inaccuracies:Some errors like wrong address, spelling names etc does not impact the score. Sometimes account gets mix up and some default payments are shown in the report. This can hamper the overall report. Thus, find all the errors and rectify them.

3. Do not qualify for bankrupt:Once your accounts qualify for bankruptcy, you have to face so many problems. It will have a negative influence and hamper the efficacy of the overall report. If bankruptcy reflected on your report, it will be the worst thing on the credit report. Build a Good Relationship with the Creditor:Build a cordial relationship with your creditors. If you are paying late or mistakenly delayed the payment it can also impact the creditor. They understand the problem and find ways which are advantageous for all. Make sure communication occurs on time. It might be possible that he offers a helping hand and lower the interest rates. These nine ways help in raising the credit score. Utilise them in the best way possible and avail several benefits for yourself. Reference: https://medium.com/@cashbayworkingcapital/9-ways-to-boost-credit-score- in-2020-179007958bdf