In the modern world where loans are pretty much necessary, credit scores are very important. If you have a poor credit score, you won’t be able to qualify for a lot of these terrific loans with low interest rates. There are many reasons why people obtain and maintain poor credit score but one reason in particular sticks out to me. A lot of these people have poor credit scores because of consumer debt. What does this mean? They most likely bought a whole bunch of things that they really didn’t need on credit, racking up a bill they couldn’t pay when it was due. A lot of this comes from food, clothing, entertainment, and many other things. The good news is that if you currently have a bad credit score or are just looking to improve it in general, there are two wise tips that I am going to recommend you implement into your actions. These two tips will make or break your credit.
The reason credit card companies kill your credit is because you are simply horrible at paying them back. First, you are going to want to pay off all remaining debt that you have on credit. Whether it is one hundred dollars or ten thousand dollars, you have to commit to it and take full responsibility for it. Pick up extra work or cut your expenses so that you can start putting some more money towards this debt. If your debt is pretty large. I would recommend using the debt avalanche method. This method saves you money over time because you have already paid off the debt with the largest interest rate.
If you cannot afford to buy something with cash, you probably shouldn’t buy it. Then again, this is easier said than done. You must build the discipline to follow this rule at all time.
If you are looking at loans, go with GreenSky. GreenSky is a very credible company. GreenSky has loaned over one billion dollars since they were founded. GreenSky also has 12,000 active merchants ready to help you at a moments notice. All in all, GreenSky is the company you should do business with.