Get High Balance Below Your Account Limitation

Another big factor called credit utilization will affect you credit score as large as 30 percent, which is a ratio that compares your total debt to total credit. The balance will hurt your credit score directly depends on whether it is high or low. If you have maxed out credit cards, you will need to spend a big fee for the score points. Get high balance below your account limitation and then pay the whole balance off. If the balance is less than 30% (10% is even great) of the credit limit, you will have better credit score.

Your Credit Score Affects the Loan Balances

Your credit score will be affected by your loan balances. Your current loan balance will be compared to the original loan amount by credit score calculation. The loan balance will hurt your credit score much if it is very closer to the original amount you borrowed. In order to downgrade the impact on your credit score, you have to be focus on paying down credit card balance soon.

High Balances and Past Due Accounts

You have to prioritize where you spend your money because each month you will have a limited amount of money to put toward credit repair. Get as many of the accounts that are in danger of becoming past due as possible and work on bringing down your credit card balances. Finally take care of the accounts that have already been charged-off or sent to a collection agency and deal with them via regular ways.