3 Important Things to Raise Your Credit Score For Home Loans In California

3 Important Things to Raise Your Credit Score For Home Loans In California

1.Check Your Credit Report – One should always check his credit score report more frequently in-order to repair his/her credit rating. If you haven’t  check your rating then you should request for a free copy of your credit report today and check it for errors. As a credit report contains a complete data which is used to calculate your credit score and there are chances that it may contain some errors. It is recommend to check the credit report  in-order to make sure that there is no wrong entry present in the report such as account late entry or any kind of penalty charges that may devalue the credit rating while applying for a home loan in California. If you find errors on any of your reports, dispute them with the credit bureau and reporting agency.

2.Setup Payment Reminders – Credit payment on time is one of the  biggest contributing factors to your credit score. As today every bank offers payment reminder facility with the help of their online banking portals which automatic sends system generated reminder via email & text messages to a customer reminding about the payment due. With the advancement in the technology one can also  consider enrolling in automatic payments options to have payments automatically debited from your bank account. But still there are some drawback with this process as this will only clear a minimum due amount and will still not help in the money management.

3.Reduce the Amount of Debt You Owe – Reducing the amount you owe, it cannot be considered as an easy task but if its done then it can be satisfying achievement in-order to improve your credit score.

This can be achieved by following the below mentioned point:

• The first thing you need to do is stop using your credit cards.
• Use your credit report to make a list of all of your accounts
• Go online or check recent statements to determine how much you owe on each account and what interest rate they are charging you.
• Come up with a payment plan that puts most of your available budget for debt payments towards the highest interest cards first, while maintaining minimum payments on your other accounts.

These are some of the basic tips & tricks that can help you to raise your credit score either if you planning for a home loan in California.