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It makes complete sense too. Humans are sensitive creatures who would rather run from their problems than tackle them head-on. However, this just leads to you blindly paying the minimum payment instead of actually owning your debt. Only then can you start a good strategy to get rid of it.

Step 2: Decide what to pay off first. Not all debt is created equal. You might have debt across several cards, each with their own balance and interest rate. There are typically two schools of thought when it comes to credit card debt: Pay off the highest interest rate first, or pay off the lowest balance first. The minimum leaves you saddled with more debt.

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This is also known as the Snowball method and was popularized by Dave Ramsey. Just pick a method and do it. Give them to a friend or a family member to hold on to. If you have a safety deposit box, put them in there for a while. Some people have literally frozen their cards in a block of ice so they have to wait a few hours before using them.

Anything works as long as your cards are out of sight and out of mind. Step 4: Negotiate a lower interest rate. For the exact scripts that you can use during your negotiations, be sure to check out my full article on eliminating debt. There are a number of ways you can approach this. You can use the money you got from step four and put it towards chipping away at what you owe. You can also tap into hidden income to free up some money. A while back, I created a video all about negotiating your debt. The advice can still help you expertly negotiate with credit card companies.

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And if you are in debt, one system that can help you tackle it is through automating your finances. The best part? For more information on how to automate your finances, check out my minute video where I go through the exact process with you. Try not to be too impressed with my awesome whiteboard art. You want as much credit as possible when you apply. However, if you know that an open account will entice you to spend, and you want to close your credit card to prevent that, you should do it.

Bottom line? This way, you ensure your card is active and maintains your credit history. I cannot stress this enough: This system is only for financially responsible people. That means you have zero debt and you pay your bills in full each month. To improve your credit utilization rate you have two options: Stop carrying so much debt on your credit cards we covered that above or increase your total available credit. Since you should already be debt-free, all that remains for you to do is to increase your available credit.

Can you approve my request? It should be activated in about seven days.

I suggest you do the same. To improve it, the first thing you need to do is get debt-free.

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I want you to have the tools and word-for-word scripts to fight back against the huge credit card companies. To download it free now, enter your name and email below.

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No games, no B. When you sign up, we'll keep you posted with a few emails per week. Ultimate Guide to Making Money. How to make more money: the total beginner's guide []. How to start your own business: The ultimate 5-step quick start guide. Automating your Personal Finances.

How to ask for vacation days Word-for-word email script. How to get your overdraft fees waived phone script provided. How to find your Dream Job the foolproof method for How to get clients online: 6 ways to find freelance work fast. How to get out of debt fast I think that many other financial advisors DO actually advocate for building or improving credit score and paying off credit card debt. Does anybody have a comparable free credit score checking solution for people not in the United States? Specifically Canada. I got my credit score for free from Transunion by snail mail. Jared — I think you are asking about charge cards.

I put a few charges on it, but just opening up a new credit card lowers your credit to debt ratio utilization rate. I would add to check with the credit card to verify how they report your credit to debt ratio.

How to Improve Your Credit Score - Top 5 Tips to Increase Quickly - HINDI

That rumor can happen, if all of the lines on the transmittal to the credit bureaus are not filled out, or are filled out incorrectly. In the case where it is missing, the bureau just assumes the amount spent is at least the limit same as American Express is typically handled. That issue is usually a reasonably easy fix via dispute through the credit bureau that is misreporting. You need to show the credit companies that you are willing to play their game.

Put something on it every month and pay it off every month. My sister puts her rent on hers and has an automatic payment.

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You can also try AmEx or Discover. Unlike Visa or MasterCard, they handle all their own financial risk. AmEx or Discover will actually review your history carefully versus some automated online BS that most of the other banks do. Also, does the hit to your credit score when you close a credit card come only from the hit to your debt utilization ratio?

If I open a new card and then close an old one with an annual fee, does my score stay relatively the same? In addition to hurting your debt utilization ratio, closing an account also reduces the average age of your accounts, making closing accounts a double whammy. Wow I love how this worked out. The same day I release my guide on credit you have a similar post go up. I always stress to friends not to close any accounts prior to applying for a mortgage because the negative bump will hurt them. I was actually working with a friend who asked me for advice, not me preaching on buying a property.

I suggested that he took a year to pay down his debt, improve his credit score, and save more money for a down payment.