Credit

In all honesty, having a great credit score is pretty much a requirement in today’s day and age if you want any type of great financing. A bank or credit union is not going to loan money to a person who has a bad reputation for paying them back. Banks and credit unions have already learned their lesson from back in 2008 when a ton of people defaulted on their mortgages. The good news is that if you have poor credit or no credit at all, there are very simple ways that you can improve your credit score. In this article, I am going to be breaking down some of these ways

  1. Pay off all remaining credit card debt

Having bad credit is most likely a result of having credit card debt. If you pay off your credit cards on time, you would have a great credit score. When paying off the remainder of your credit card debt, you can either use the debt avalanche method or the debt snowball method. In all honesty, I would highly recommend the debt avalanche method if you are dealing with large sums of debt. If the debt is like a simple car loan and other small loans, you can use the debt snowball for this will give you a lot of confidence moving forward.

  1. Only put things on credit that you can pay off

This rule is as simple as it gets but many people fail to abide by it. A lot of impulsive shoppers will put hundreds, maybe even thousands of dollars a month on credit and won’t be able to pay it off when the payment is due. This is a very quick way to hurt your credit score severely. I would recommend buying things like gas and groceries on credit. These are fairly small expenses that are easy to pay off and will build your credit at the same time.

If you are looking for financing, go with GreenSky Credit. GreenSky Credit has over 12,000 merchants that are ready to help you. GreenSky credit also has over $1 billion in loans provided. All in all, GreenSky Credit is the company to go with.

https://www.forbes.com/sites/laurengensler/2018/04/03/financial-technology-company-greensky-ipo/#304e80ac5ede

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