What are ways to improve your credit score?
If you already have an established credit history, you may be focusing on improving your credit score. Are you ready to boost your less-than-perfect credit? Here are some ways to keep your credit on track:
Pay your bills on time
Making a late payment may negatively affect your credit score and result in late fees. Any bills that are more than 30 days late will be reported to the credit bureaus.
Set up automatic payments
This can help you avoid late payments – just ensure that your account balance will cover the payment amount.
Use credit cards wisely
Pay off your credit card every month so you will avoid fees and interest charges.
Avoid applying for more credit than you need
Credit applications can appear as inquiries on your credit report, which can look to lenders like you’re taking on additional debt. These inquiries will appear on your credit report for up to two years.
Borrow or charge what you can afford
Use a small percentage of your credit limit that is within your budget so you know you can pay it back and avoid accumulating debt.
Check your credit report
Make sure it does not contain any inaccurate or fraudulent information. If you find inaccuracies, you can report and dispute them to the credit reporting company. Credit monitoring services can also help you track and keep an eye on your score and any changes.
Talk to a credit counselor
Sometimes we all need help. A certified credit counselor can help you make a plan for managing your debts, create a budget and provide helpful financial education resources.
If you are having trouble financially
Reach out to your lenders and creditors to let them know your situation. Avoid waiting until the debt has been turned over to collections. Your lenders and creditors may be able to work with you and reduce or change your payment plan or temporarily move the due date so that you can get back on track.
Pay your bills on time
Making a late payment may negatively affect your credit score and result in late fees. Any bills that are more than 30 days late will be reported to the credit bureaus.
