If you’re trying to improve your credit score, there are a few things you’ll want to avoid. At Xperia Credit Solutions, we offer comprehensive credit repair services ranging from credit education and analysis to credit recovery. Continue reading to learn the damaging behaviors you should avoid, and contact our team for help if you need help with credit restoration!
Late or Missed Payments
One of the most important factors in your credit score is your payment history. Late or missed payments can stay on your credit report for a few years, and can have a major negative impact on your score. If you’re struggling to make payments on time, contact our credit repair specialists for help crafting a payment plan.
High Account Balances
Your credit utilization ratio, or the amount of your credit limit you’re using, is another important factor in your credit score. Keeping your balances low will help improve your credit utilization ratio, and in turn, improve your credit score. On the other hand, building up high balances can damage your credit score, even if you’re making payments on time.
Maxing Out Credit Limits
In addition to high balances, maxing out your credit limits can also negatively impact your credit score. It’s important to keep your balances low, even if you have a high credit limit. If you’re close to maxing out your credit limits, consider paying down your balances or asking for a credit limit increase.
Letting Accounts Go to Collection
When an account goes to collection, it’s a sign to creditors that you’re not paying your bills on time. This can damage your credit score and make it more difficult to get approved for loans or credit cards in the future. If you’re struggling to pay your bills, contact Xperia Credit Solutions for help! We can work with you to create a budget and improve your financial situation.
With a team of FICO professionals, Xperia Credit is here for you. Reach out today to turn your credit around!