Best Ways to Fix credit


Maintain low credit utilization ratio

The credit utilization ratio is the total outstanding amount on all your credit cards divided by the total credit available on all your credit cards.

For example, if you have 3 cards with a limit of $3000 each, and you have utilized $700, $500, and $300 respectively on these cards, your credit utilization ratio is 16.67% (i.e., $1500/$9000).

Maintain low credit utilization ratio

People with stellar credit scores tend to have credit utilization ratios of less than 30%, and in general, this is what lenders like to see as well. A low credit utilization ratio implies you manage your credit well and are less likely to default on your dues. To fix your credit, aim to bring your credit utilization ratio to below 30%. 

Written by Erica Burgess
3 years ago

Dispute inconsistencies

You’d be surprised how often mistakes creep into credit reports. Or maybe it was a mistake on your lender’s part who reported your payment as late when in fact it was on time.

To fix your credit, you can always call up the lender and ask them to correct this mistake which is spoiling your credit. Dispute any inconsistencies that you notice so they don’t end up weighing your credit score down.

Written by Dolores Wallace
4 weeks ago

Make timely bill payments

Lenders like to look at a borrower’s utility and other bills because they are interested in learning how reliable you are when it comes to paying your bills. As a rule of thumb, lenders try to familiarize themselves with a borrower’s past performance because it is considered a fair indicator of how the borrower will perform in the future.

Make timely bill payments

Paying your bills on time can help fix your credit. The bills include but are not limited to rent, credit card dues, loans, utility bills, etc. If you keep forgetting to pay these bills, set up automatic payments so the amount gets deducted from your bank account as and when the bills become due.

Written by Moises Hammond
1 month ago

Do you know the BEST WAY TO Fix Credit?

This topic is tagged



private economy

Share this page

Related topics

image for topic 'Improve credit score'
Best Ways to

Improve credit score

image for topic 'Pay off mortgage'
Best Ways to

Pay off mortgage

image for topic 'Pay off student loans'
Best Ways to

Pay off student loans

image for topic 'Budget as a couple'
Best Ways to

Budget as a couple

image for topic 'Pay in japan'
Best Ways to

Pay in japan

image for topic 'Value a stock'
Best Ways to

Value a stock

Add new topic

Do you have a suggestion on a new topic? Please contribute!
Best Ways to
This site is protected by reCAPTCHA.
The Google Privacy Policy & Terms of Service apply.

Explore other topics

Disclaimer: This web site gathers "Best Ways" to do things from contributing users. Any application of ANY recommendations set forth on this site is at the viewer's discretion and sole risk. Examples (non exhaustive): Some of the topics relates to health (physical or mental). The recommendations set forth on such topics (or any other topic) are not intended as a substitute for the medical advice and supervision of your personal physician. Other topics relates to economics, investments and legal issues. None of the recommendations set forth on such topics (or any other topic) are intended as investment, tax, accounting or legal advice. Your use of the Information presented to you is at your own risk. The Information is provided 'as is' and without warranties, either expressed or implied.
For to operate properly cookies are needed. By surfing further on this site you consent to us setting cookies in your browser as well as to our privacy policy and our terms of service. Click this button to accept / remove this message.