A Personalized Guide To Building Credit
Credit is a cornerstone of our economy. You need good credit to get favorable loan terms, secure better mortgages, obtain credit cards and pursue other financial opportunities.
If your credit took a hit due to financial setbacks, or if you haven’t built up your credit yet, there are multiple ways to build your credit. However, credit repair is not one-size-fits-all. You will need to sift through numerous potential strategies to determine which ones are right for your situation.
At Madgett Law, we can help. We are a Minneapolis-based public benefit corporation focused on addressing credit and debt issues for people from all walks of life. With decades of experience, our lawyers understand how to address setbacks to clear the way for a brighter financial picture in your future.
How Do You Increase Your Credit Score?
Wondering “how do I fix my credit score?” Generally, you have to have credit to build credit. Consistently making payments on time is the foundation for establishing good credit.
Here are some steps to improve your credit score:
- Take out a secured credit card.
- Become an authorized user on someone else’s account.
- Open a joint account with someone you trust.
- Keep your credit card and loan balances low.
- Pay off your credit card every month.
- Get your rent payments reported to the credit bureaus.
There is no formula for getting on track with solid credit. The best approach for you will depend on your financial circumstances and credit history.
A Personalized Credit-Building Plan
When you work with us, our attorneys can help you develop a personalized plan to build or rebuild your credit. We will tailor that plan to your unique goals and circumstances. You can expect comprehensive guidance from us on:
- Improving your credit health
- Addressing credit errors or inaccuracies
- Managing debt
- Establishing positive financial habits
- Being proactive about protecting your credit
- Avoiding financial setbacks
We can help you take a strategic approach toward managing your finances, providing step-by-step guidance to empower you on your credit journey.
Take Your Credit Back Into Your Hands
It can feel defeating to have financial setbacks that lead to poor credit, or to have no credit at all. Thankfully, you can take action to improve your financial circumstances, starting with rebuilding your credit.