Improving your credit score can help not only with the purchasing of your first home, but for almost any major purchase or loan in your lifetime. Here are some ideas on how to get your credit back on track.


  1. Check Your Current Credit Report – Normally you are only entitled to one free credit report annually. However, due to Covid-19, the three reporting agencies have announced that you may review your credit report once weekly until April 20th, 2021. 


  1. Speak with Your Creditors – It is important know where you currently stand so you can set up a viable payment plan with your creditors. Be honest with how much you can afford monthly so you can minimize the negative effects of overdue payments.


  1. Set Up Payment Reminders – Paying on time is one of the easiest ways to raise your credit within months. Set up notifications on your phone, fridge, or calendars, create a network among friends or loved ones offering reminders on the 1st or 15th of the month, or pay all of your bills on the same day of the month.


  1. Remove Credit Errors – When reviewing your credit report, look closely for any negative marks that may exist. If these are errors or the information is outdated, it is possible for you to get them removed from your credit report. Once removed, you may see a drastic increase in your credit score.


  1. Be Cautious when Applying for New Credit – while it can increase your overall credit limit, applying for multiple lines of credit can negatively impact your score if done in a short time.


  1. Pay Multiple Times – Paying down your credit twice every month instead of only once lets the credit bureaus know you are prioritizing paying down your debt in your life, helping lower your credit utilization.


  1. Think About Debt ConsolidationDebt consolidation is a great way to increase your credit, but comes with severe penalties should you miss any payments. It also decreases your credit for a few months, making it less than ideal if you are planning on applying for a loan or mortgage in the near future.