Building credit is often as difficult as repairing or maintaining it. In order to be approved for certain types of loans, you'll need to display experience with assuming and repaying previous debts. Lenders want to see evidence of activity, so in some cases a lack of credit can be as detrimental to a profile as bad credit.
Fortunately, whether the goal is establishing or cleaning up your credit, technology abounds that can help facilitate the process. Here are a few relatively simple measures you can take to more efficiently manage your credit and improve your profile – any of which can be accomplished online:
Set up automatic payments
While this strategy can't necessarily be applied to payments that vary on a monthly basis – like some credit card balances – it as a nearly foolproof method of making sure predictable bills are paid on time and in full. Provided adequate funds are in your account, paying bills like the mortgage and utilities on time is a reliable means of credit repair that can be done by simply linking them to your online banking account.
If you have bills that either aren't or cannot be paid automatically, you may find that setting a simple calendar reminder a week – or more – in advance of their due date can help promote good habits and ensure they are paid in due time. You can do this with your phone or email, but the point is to create a routine that results in making regular payments. This can be especially helpful for a credit card bill, which may vary in amount but absolutely needs to be paid on time to aid your credit profile.
You may want to set some sort of schedule for checking your credit reports, as well. If you delay pulling your reports, you may find it more difficult to stay on top of their progress, but knowing where your score stands is an important element of improving your profile.
Tend to discrepancies
Whether you're looking for signs of fraud or misrepresentation – usually in the form of inaccuracies or misinterpretations – making sure your score is accurate is essential. You don't want all the effort toward its improvement to go to waste because you overlooked errors.
Re-evaluate credit goals
As with any financial housecleaning, credit repair should feature certain incremental goals. Make a personal spreadsheet outlining your goals and revisit it every few weeks to see where you stand and what may need to be adjusted.