You really try to be responsible with your money.
But, no matter what you do, your credit score never seems to make it over that 700 hump.
Yup — you’ve got some algorithm spitting out a three-digit number that’s basically controlling your entire life. We get it: It’s frustrating.
Don’t give up just yet, though! These three moves just might be the kickstart you need to finally get your credit score moving in the right direction.
Best of all? You can do all these things by the end of this week.
1. Write a Love Letter
…to your creditors.
If you generally have a pretty solid credit history, save for a few missteps, then sending a well-executed goodwill letter to those you owe could help get you back in good graces with them and improve your credit score.
You’ll want your letter to cover the following bases:
- Explain why and how long you’ve been a loyal customer of the creditor.
- Take responsibility for the mistakes that led to the blemishes on your credit history.
- Describe the steps you’re taking to ensure these mistakes don’t happen again.
- Appeal to your sense of empathy. Show that you want forgiveness but also that you are determined to do better going forward. Show them you deserve this!
- Keep your letter clear and to the point.
Don’t forget to include important information, like your account number and the date and amount of the missed payment you want to be removed from your credit history. Once you’ve written your goodwill letter, address it using the information on the creditor’s website.
2. Ask This Website to Help You Pay Your Credit Card Bill This Month
No, like… the whole bill. All of it.
Your credit card company is ripping you off with insane rates, and it’s getting rich off of you. But there are other, nicer companies that’ll help you out. A website called Straightaway knows the best ones and could pair you up as soon as tomorrow.
Here’s how it works: Straightaway will match you with a loan that’ll cover your credit card tab. Use that loan to pay off your debt, then make monthly payments to repay the loan. It could lower your monthly payments and help you pay off that debt a lot faster. Plus, no credit card payment this month.
Straightaway won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to Straightaway. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
Now you can finally start effectively chipping away at your debt — and watch your credit score reap the benefits.
3. Watch out for Scams, Too
Like any industry dealing with money and finance, the loan industry has its fraudsters. Keep an eye out for red flags, which are warning signs of potential fraud, according to the Federal Trade Commission.
Pst: That’s why we’ve partnered with Straightaway — so you know you’re only seeing offers from reputable lenders.
Now you’ve got three tactics you can use to get your credit score right where you want it. Good luck — you’ve got this!