Learning Center
Basic Finance
How Credit Affects You
Preparing for Home Ownership
Steps for Buying a Home
Life as a Homeowner






 
Additional Resources
Module 2
How Credit Affects You
Improving Your Credit
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Did You Know
  • You can improve your credit score and correct errors on your credit report.
  • There are some simple strategies to follow to successfully manage your credit.
  • Reputable non-profit organizations can provide you with credit management help.

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Improving Your Credit

You’re Not AloneIf your credit is not as good as you’d like it to be, don’t despair. You’re not alone and the problem is fixable with a few simple steps that can begin to get your credit rating back on track.

What Lenders Want to SeeRegardless of your current situation — high debt, recovering from bankruptcy or dealing with tax liens or judgments — you can improve your credit rating and achieve your financial goals. Lenders want to see that you’ve been “rehabilitated”, and that you’ve learned how to handle credit responsibly. Improving your credit does take some time, however. Depending on the seriousness of your situation, it could take anywhere from six months to three years or more to see significant improvements in your credit.

Tips
Quick Tips for Improving Your Credit edge


  • Review your credit report
  • Correct errors on your report
  • Pay your bills on time
  • Rethink how and when you use credit cards
  • Change your spending habits
  • Avoid credit repair companies
  • Work with reputable non-profit credit counseling organizations


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