5 Ways to Quickly Repair Poor Credit

The holidays are fast approaching and you might already have the perfect gifts in mind for your friends and loved ones. But buying for everyone on your list quickly adds up. That’s why many people turn to credit cards to get through this gift-giving time.

The trouble is, come next year the credit card companies will be looking for repayment. If you miss even one bill (or don’t pay the minimum due), your credit score could take a lasting hit. Luckily, there are ways to avoid that scenario and still get the cash you need for end-of-year holidays. Here’s how to repair poor credit and avoid debt:

1) Pay Down High Balances

One of the ways credit reporting agencies generate a score is by looking at the debt you owe compared to the amount of loan for which you qualify. So, if you owe $5,000 on a $10,000 limit, you’re already using half of your total loan amount.

Credit card companies love it when people carry balances. It means they can charge increasing interest rates and larger minimum payments each month. Don’t fall into the trap. When you get a cash advance in Palm Coast, you can use that money for any number of purposes, including paying off credit card debt. Over time, your balance will decrease and you’ll soon be debt-free.

2) Get a Balance Transfer

You might have heard about “0% APR” balance transfer deals on credit cards. This is when you move debt from one card to another and get a certain time period without having to pay interest. That allows you to pay down debt faster. The problem is you could see sky-high interest rates once the promotional period ends.

By contrast, getting a payday loan in New Smyrna Beach means you’re using your actual income to quickly get the funds you require. Best of all, repayment terms at Check on Hold are some of the most generous in the area. It’s a win/win: you get the cash you need without any surprises down the line. 

3) Investigate Credit Repair Assistance

Did you know that help is available to pay down high credit card bills and consolidate debt? Many people struggle without realizing that there are methods to get out of a financial hole. Credit repair can be done on your own or through an agency. It’s important to note that this option can be costly, however.

On the other hand, since securing a cash advance in DeLand centers around your current income, you get the peace of mind that there won’t be any added expenses or unexpected fees. Instead, when you visit any of Check on Hold’s 11 Central Florida locations, you’ll be out the door in minutes with cash in hand to pay bills and buy the things you most want and need.

4) Keep an Eye on Your Credit Score  

Sometimes called a “rating,” your credit score involves more than just loan terms. Many employers check credit scores when they’re deciding who to hire. The number also comes into play for housing, higher education, and other scenarios. So, it’s a good idea to know your score and take steps to improve it.

One of those steps is by avoiding high credit debt in the first place. Along with cash advance and payday loans, there are many other sources of income. For example, did you know that Check on Hold pays the most cash for gift cards in Daytona Beach, Florida? Just bring in your unwanted gift cards to get the instant money you can use for other things. 

5) Ease Up on Credit Use

Using credit isn’t necessarily a bad thing. In fact, there are many situations where having a credit card comes in handy. Still, credit companies are increasingly making it more difficult to qualify for attractive loans and pay off high balances. Who wants to play that game?

For years, Check on Hold has been the go-to resource for Palm Coast payday loans and other safe and legal options for fast funds. Visit one of our 11 Central Florida locations today to see all possibilities available to you.