With tax season approaching, now is an ideal time to ‘spring clean’ your credit and set yourself up for a financially healthier future. Experts recommend taking this opportunity to improve your credit score.

Credit 'Spring Cleaning' with Kikoff

Cynthia Chen, founder and CEO of the credit-building app Kikoff, advocates for a comprehensive approach to credit ‘spring cleaning.’ Her experience in public finance revealed the challenges individuals face due to poor credit, inspiring her to create Kikoff.

Kikoff offers services like credit monitoring, debt negotiation, and subscription management. Chen notes that tax season provides a dual benefit: people are already decluttering, and tax refunds offer funds for financial investment.

Steps to Improve Your Credit

Review Your Credit Reports

The first step, according to Chen, is carefully reviewing your credit reports from Equifax, Experian, and TransUnion. This ensures accuracy and helps identify any unfamiliar accounts. Chen herself discovered a credit card on her report that didn’t belong to her.

Address Problem Accounts

Addressing accounts in collections is also crucial. Chen suggests negotiating settlements with collection agencies, as they often accept less than the full amount owed. She also recommends utilizing rent reporting services to build credit through regular rent payments.

The Broad Benefits of Good Credit

Good credit extends beyond loan approvals. Chen emphasizes its importance when applying for rentals, jobs, and even in personal relationships. She’s heard of individuals checking a partner’s credit history before committing to a deeper relationship.

Kikoff’s services have helped over two million Americans build credit. By taking these proactive steps and following Chen’s advice, individuals can improve their financial future.