Seven Simple Steps to Improve Your Credit

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AdobeStock_54734906.jpegDon’t let poor credit keep you from getting the home of your dreams. That being said, there are some basic steps you should take to ensure your loan success. Good credit will not only help you lock in a lower mortgage rate but will help you to get pre-approved as well.

If you do have poor credit there are some steps to take to improve it. Improving your credit score is not a quick fix but with self-control and responsible spending it can be done.  Check out the tips below for more help:


  1. Check your credit report 

    Fraudulent or inaccurate chrages may be the reason you have poor credit. Your account may have been compromised or you could have been billed incorrectly. Your credit report will allow you to discover and refute any inaccuracies in your history. We recommend using Smart Credit.

  2. Pay off your debts 

    This may seem obvious but the best way to improve your credit score is to reduce the amount of debt you owe. Setup reminders and budget your money so you can responsibly pay off those debts.Calculator paper

  3. Pay bills on time 

    This is especially important for your monthly credit card bill. Every time you miss a payment your credit score will drop.

  4. Keep paid off cards open 

    Once you reach a $0 balance, keep the account open but destroy the card. This will increase your credit score because you will be in “good standing” with your credit card company. Destroying the card will ensure you won’t go back into

  5. Stop using credit cards 

    Another fairly intuitive tip but you won’t be able to pay off your debts if you keep increasing them. Additionally, the higher the ratio between your credit card balance and your credit card limit, the more your credit score will suffer.

  6. Don’t open new accounts 

    Not only will opening new accounts put you in the position to acquire more debt but too many accounts may make you seem like a liability to potential lenders.

  7. Budget 

    The easiest way to get out of debt is to never have any at all! Sit down and come up with a budget and follow it strictly. The minor financial privileges you give up now will lead to much more rewarding wealth in the future.bookkeeping-accounting-taxes-settlement-calculator-1

With more than 21 years in the industry, we’re a leading fintech mortgage lender saving current and potential homeowners money and time through transparent rates, zero junk lender fees*, and technology that automates over five million tasks each month. We’ve served over 100,000 borrowers, boast a 98% customer satisfaction rating and 4.9 stars on thousands of online reviews, and provide a “mortgages without migraines” experience. (*Note: Wyndham does not charge junk fees, application fees, processing fees, or underwriting fees. There can be fees charged directly by Third Parties for services such as, but not limited to, title, settlement, appraisal, taxes, and insurance.)

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