As a single mom, and survivor of domestic violence or emotional abuse, you know that having good credit is essential for financial stability. Good credit opens the door to more options for loans and other financial products. Not to mention, the best opportunities in life! I created a guide on “5 Fantastic tips to Easily Build Excellent Credit“. In addition, I created a YouTube video on “What Builds Credit the Fastest”. But when time is tight, how do you build your credit fast? Let’s break down the best ways to get your credit score up quickly.
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Pay Your Bills on Time
The most important step in maintaining a good credit score is making sure you pay all of your bills on time each month. This includes things like car payments, student loans, rent, utilities, and any other monthly bills. It’s also important to pay off any past due debt you have. If you have collection items, here is the easiest way to pay them off.
“Beware of little expenses; a small leak will sink a great ship”
Get a Secured Credit Card
If you don’t have much of a credit history yet, then getting a secured card can be an excellent way to build up your score quickly. With these cards, you place a deposit with the bank or lender and they give you access to a certain amount of money that is yours to use as credit. You can use this as practice for building credit and responsible spending habits while also demonstrating to creditors that you are trustworthy and capable of managing your finances responsibly.
Check Your Credit Reports Regularly
It’s also important to keep an eye on your credit reports regularly so that you can make sure all your personal information, debts or negative information is reporting correct and accurate. It’s important to fix any errors or mistakes. Unfortunately mistakes can have a negative impact, bringing down your score unnecessarily. Checking your reports periodically will help ensure that there is nothing incorrect being reported on them which could damage your score if left unchecked. You are entitled to one free copy of each of the three major credit bureaus– Experian Equifax, and TransUnion– take advantage of that!
One last thing…
Building up good credit takes some work but it doesn’t have to take years! By following these simple steps, single moms can increase their scores quickly without too much effort or expense! Paying bills on time, getting secured cards where possible, and checking reports regularly are all key steps in building great credit fast! Good luck out there!
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I hope you found this information helpful!💕
Hello, my name is Renee, I am a wife, mom and AFC (Accredited financial Counselor). I specialize in helping busy, single moms learn how to be financially independent so they can eliminate the stress and build confidence around money, so they can buy and do the things most important them.💕 If you want to learn more about why I am passionate about helping single moms, learn more about me and my story.
