Know How to Fix My Credit

A low credit score can hold you back from getting loans, credit cards, and favorable interest rates. And there is no magic stick that will increase your credit score whenever you say ‘Fix my Credit.’ You may need professional assistance for damage control. We discuss a few important points below that should help you get started.

Check the accuracy of your Credit Reports

You’re legally entitled to get one credit report each year from each of the three credit reporting bureaus that are Equifax, Experian, and TransUnion. You can access all of your free reports through or get your reports directly from the three bureaus.

The credit reports are somewhat likely to vary but if you find errors in any of the reports, you must dispute them. The bureaus are legally obligated to resolve any errors. You can request a correction online or by mail or phone. You will need to provide documentation such as ID proof, the erroneous account information, and supporting documents like credit card closing statements that prove that there is an error.

You may need to contact the lender or creditor that issued the account to let them know that there is a dispute and if they can correct the information at their end. Once the error has been rectified, it should reflect on your credit report. In most cases, you will get a response to your dispute from the credit bureaus within 30 to 45 days.

Find out what you need to Improve

If there are no errors in your credit report and you still don’t have a good enough score, then you have to find out what’s wrong. Saying ‘Fix my Credit’, to a good credit repair agency may yield the desired results as they will first analyze what you are not doing right and inform you. But if you are confident that you can sort things out on your own then read on. Here are the major credit scoring factors which will help you to pinpoint what you need to improve.

Payment History

Payment history contributes 35% of your credit score. A history of overdue payments projects you as a greater risk to lenders and creditors.

Amount of Debt

Debt contributes 30% of the credit score. Outstanding or high debt will affect your credit score negatively.

Age of Accounts

This makes up 15% of your credit score. Lenders and creditors like to see a proven record of borrowing and repaying.

Account Mix

This makes 10% of your credit score. Lenders and creditors want to make sure that you can handle revolving credit like credit cards and installment credit like mortgages, auto loans, and student loans.

Credit Inquiries

Credit Inquiries make up 10% of the credit score. Multiple hard inquiries on your credit may give lenders and creditors the impression that you are desperate and not in stable financial condition.

Make Payments on Time

Make payments on time and avoid delinquencies. If any payment is beyond 30 days past due, lenders, and creditors can report your account to credit bureaus. Even a single late payment can hurt your score. The longer your payment is overdue, the worse it is for your credit. Late payments can stay on your report for seven years.

Examine your Credit Utilization Ratio

How much you currently owe on your credit card divided by your credit card limit is your credit utilization ratio. Experts recommend a credit utilization threshold of 10% for best results. This means that if you have a credit card limit of $3,000 then you should spend below $300 every month. Once your credit utilization ratio is beyond 30%, it will negatively affect your credit score.

Increase your Credit Limits

If you ask your creditor to increase your credit limit and if they grant it, then it will improve your credit utilization and quickly increase your credit score. But for that, you will at least need to have a good payment history.


When you contact a good credit repair company and say, ‘Fix my Credit’, they will suggest more ways to improve your credit score but you can still use the points discussed in this article to improve your credit.

Do you’ve any questions?