You have the right to a fair and accurate credit report. Dispute any errors like late payments, inaccurate hard inquiries, or negative payment history and get them removed from your credit report.
Pay bills on time
Your payment history is 35% of your average credit score, so pay those bills on time every month. Also, a late or missed payment could stay on your credit report for up to 7 years.
Pay down balance
Your utilization ratio is 30% of your credit score is based on the amount you owe, so pay down your debt. Paying down your credit card balances will positively impact your credit score.
Get a credit card or two
If you don’t have any open credit cards, apply for one or two. Get a secured card to start building your credit, which also reports to all 3 major credit bureaus. Keep them in good standing by paying your bills on time each month.
Use your cards responsibly
Its recommend that you keep your utilization rate below 30%, so use your cards, but don’t use them too much.
For example, let’s say you have two credit cards with a credit limit of $1,000 each. You might use up to $250 on each card and pay the credit card balance in full each month. This will keep your utilization rate under 30% and positively help your overal credit score.
Raise Credit Limit
If you already have a credit card, try calling the credit card company. Ask the representative to raise your credit limit. This automatically decreases your credit utilization rate and improves your score.
HOW IT WORKS:
1. Apply for a Credit Builder Account.
Your money is safe and secure. No hard pull on your credit.
2.Pay off your Credit Builder Account in the specified amount of time. You can choose the payment term and dollar amount that best fits your budget.
3. Each on-time monthly payment builds credit history and adds to your savings. Your monthly payments are reported to all three credit bureaus.
4. Unlock your savings. Once you’ve paid off your Credit Builder Account, your CD unlocks and the money is yours (minus fees and interest).
1. ENROLL: Verify your identity, add your rent details, and connect the bank account that your rent is paid from.
2. WE REPORT YOUR DATA
Our tech goes to work to verify your data and report your payments to all 3 credit bureaus. The majority of Boom users are verified in less than 24 hours and reported thereafter. If there are issues, you’ll receive a notification to resolve it.
3. BUILD: SEE YOUR CREDIT SCORE IMPACT
Your credit report will be updated within as few as 10 days from the time of checkout. Boom continues automatically verifying and reporting your