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Bewitched by Bad Credit? Here's Your Magic Wand! Main Photo

Bewitched by Bad Credit? Here's Your Magic Wand!


Posted: September 25, 2023 by Esteban Rivera

In the spirit of Halloween, let's address a topic that can be scarier than any ghost or ghoul: bad credit. Like a lingering shadow in a haunted mansion, past financial mistakes can haunt your present and future. But fear not! With the right spells and potions (or, more accurately, steps and actions), you can exorcise those credit demons.

 

The Curse of Late Payments:

Missing a payment deadline can be like stepping into a financial haunted house. But setting up automatic payments or reminders can be your protective charm against this common credit score specter.

 

The Phantom of High Balances:

Maxing out your credit cards? That's a phantom you don't want lurking around. Aim to keep your credit card balances below 30% of your credit limit. This simple act can work wonders in boosting your score.

 

Zombie Accounts:

Old accounts, especially those you don't use, can become like zombies—seemingly dead but still causing problems. Instead of closing them, which can hurt your credit age, consider using them occasionally for small purchases to keep them active. Maybe use them to pay for services you already pay for (Netflix, other streaming platforms, gym membership, monthly subscriptions, etc...)

 

Seeking the Credit Wizards:

Sometimes, the magic lies in seeking help. Credit counseling services can offer guidance, and regularly checking your credit report can help you spot and dispute any errors or fraudulent activities.

 

A New Dawn:

Remember, every witch or wizard has their moments of doubt. Your financial journey might have its share of bumps, but with determination and the right strategies, you can break the spell of bad credit and soar on a broomstick of financial freedom!

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