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What to do when your credit improves


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Learn what to do when your credit improves.

Get a free credit report and score every 6 months from

Published in: Economy & Finance, Business
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What to do when your credit improves

  1. 1. Better CreditWhat to do when your credit improves 1
  2. 2. Improved Credit Checklist Nothings cooler than better credit! It’s kind of crazy, but the better your credit the more cash stays in your pocket. Here are just a few things you should do with your improved credit:  Get better interest rates on your credit cards  Get better rates on your insurance  Get better rates on your mortgage  Get your utility deposits back  Get a better cell phone plan Get a Free Credit Report and Score every 6 months from 2
  3. 3. Credit Cards When you credit improves, call you credit cards.  Ask all your credit card companies to lower your interest rates  Ask for them for better rewards or cash back  If they hesitate, assure them they won’t be your primary card anymore Credit cards are notorious for charging astronomically high interest rates on less than perfect credit. 3
  4. 4. Insurance Rates When your credit improves, shop for better insurance rates  Like your credit card companies, ask for a rate review  The difference between good and bad credit can be 20-30%  Don’t forget to check home, renters, auto and life policies Many folks don’t realize that your credit affects the insurance premiums you pay. 4
  5. 5. Utility Deposits When your credit improves, get your deposits  Call your utility companies and get your deposits back  Call your cable company and get your deposit back  Call your cell phone company and get a better plan Utility companies use deposits to ensure they get paid. With improved credit and a good payment history you can usually get it back. 5
  6. 6. Mortgage Rates Mortgages are a great way to reclaim lost cash.  Get a better rate if you qualified with lower credit  Finally qualify for a new home loan  Check on historically low mortgage rates Your monthly mortgage payment can change significantly with just a little credit improvement. 6
  7. 7. How is Your Credit Doing? Regularly review of your credit report and score • Check for mistakes and inaccuracies • Protect yourself from identity fraud • Look for opportunities to improve Get a Free Credit Report and Score every 6 months from 7