Is 520 A Good Credit Score? How You Can Improve Your Credit Score Here ph
Over the last 10 years, I have been trying to rebuild my credit, which means at one point, I absolutely destroyed it. I believe that at one time, my credit score was around 450. I can’t be sure because honestly, I was too afraid to check it. When I finally did check my credit score, I found out that it was at 520. Since I had been working on it for a while by then, I think that I can safely assume that it was much worse than that.At that point, 520 was a pretty good credit score for me. Does that mean that it’s a good score? Not at all, and it actually isn’t.
When my credit was in this range, I had a really hard time. I couldn’t get basic things like cell phones. It seemed like almost everything I got on credit required a deposit. I couldn’t get loans as I had too many derogatory items. For a while, I didn’t know what to do. It seemed like things would never get better. If you have bad credit, even if it’s worse than 520, you can really improve it. I decided to commit to improving mine and I did. There were three basic things that I focused on: 1. Paying My Bills On Time When you have bad credit, it’s easy to pay your bills late. I remember thinking that my credit was already terrible. If that’s the case, why would I want to pay my bills on time? Eventually I changed my mind and stopped being ridiculous. 2. Building Lines Of Credit I couldn’t get credit cards because I had screwed up the ones I had. So, I had to get secured cards. They were expensive and their interest rates were insane. They required huge deposits. They were worth it. 3. Keeping Credit Cards Paid Off In Full I stopped using credit. I started using credit cards like they were cash. In other words, if I didn’t have the money in my bank accounts, I didn’t spend it on cards. I have paid off my credit cards every single month for years. That’s how you rebuild your credit.Yes, 520 is a bad credit score. That said, you can improve it by changing your habits. Make the decision to change your habits today. It may seem like you’re never going to get out of your current situation but you will! All it takes is to start paying your credit card bills on time
for a few months and things will start to turn around in a huge way. I can all but guarantee that if you will do that for six months, it will impact your score by 50+ points. Now that I have made the changes and stuck with them for a few years, my score has increased by 300+ points. What about you? What do you think? Tell me and I'll send you a free gift.
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Do's and Dont's of the Credit Card Game Here pf Futhermore: Is 520 A Good Credit Score?
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Published on Oct 29, 2012