Each time you complete a step in your plan, you'll receive a ribbon as a way to congratulate you on your hard work (and hey-who doesn't love a ribbon?) And remember that plenty of other factors go into home lending and mortgages, but a better credit score certainly can't hurt! If you start to address the steps in your action plan and budget in ways that allow you to optimize your credit usage, you can start seeing the impact on your score. This plan includes paying off remaining debts toward active credit card accounts as well as lowering your credit utilization ratio. You select your financial goal, set your timeframe and get your personalized plan. Whether you're starting out with a poor credit score or not, if you take these actions, you'll start to see your credit score improve.įor example, let's say you are looking to improve your credit score by an extra 5 points or more so that you can land a better mortgage rate. Your personalized action plan powered by Experian includes clear steps you can take to help improve your score-including but not limited to paying off an account in full or a portion of certain balances to opening a new account and more. How setting a goal helps improve your credit score At each step, we'll provide you with insights and details about what you can do today with your current accounts to help improve your score and stay on track. Step 3: Get your personalized planĪfter you provide the necessary data needed to help set up your goal, you'll receive a personalized action plan provided by Experian to help you start taking action today to improve your score. Depending on a range of factors, your score could potentially improve beyond that. Remember that regardless of the timeframe you choose, the stated goal will be to improve your score by more than 5 points. Please note: If you select a time frame for which a plan with an increase of at least 5 points cannot be generated, we'll let you know so that you can select a different time-frame, or come back when a plan becomes available! Plan eligibility can change as the information on your credit report gets updated by your financial institutions and lenders. We'll use your Experian credit report to set a score goal based off whether you're looking to achieve it within 3, 6, 9 or 12 months. Next, choose the timeframe for when you would like to plan to reach your new credit score. What are you looking to achieve? Are you planning on buying a car? Considering a home? You'll be prompted with options to choose from which may help determine the right plan for you. Step 1: Set a goalĪfter entering the Credit Journey platform you can click on the "Insights" tab, then "Score Planner." To set a goal, first tell us about your financial aspirations. So, how do you do that, exactly? Let's go through it step by step. Within the Chase Credit Journey dashboard, you will have the option to create a score goal.
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