7 best ways to repair your credit score


A few missed payments later and this score has been negatively affected. Even though you may think there is no coming back from bad credit, there are ways to get to a better place, financially.

There are ways to repair your credit score however.

Daya is a young professional interested in doing this in the most efficient way possible.

Have a plan

Daya needs to start by developing a clear plan for how she will change course. This means that she must fully understand her current position and the best ways for improving upon it.  She must remain consistent and diligent throughout the process too.

Know your own financial history

Daya has to start by actually knowing what her credit score is. This way, she can correct any errors.

Rid yourself of any dormant accounts

If there are accounts you no longer need, close them. This way, you won’t have an excess amount, thus helping to repair your credit score.

Pay in full

She should settle all of her debts.

Avoid applying for multiple loans at the same time

If she requires more finance, she shouldn’t apply all at the simultaneously. Otherwise, this is likely to indicate to lenders that she is in financial trouble.

Reassess your spending habits

Daya needs to look how she spends her money and to start relying less on credit.

Don’t use too much credit.

If you ensure that avoid reaching your credit limit you are safe. You need to maintain a utilisation level below 30%


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