Are you having trouble getting approved for credit cards or loans or getting unfavorable rates for financing? You might need to make some improvements to your credit score. It’s important to establish your credit score, as no credit can be as bad as bad credit! Check out these tips to help you along the way!
Pay Bills On Time
Even if your payments are just a few days late, it can make a negative impact on your credit score. One of the biggest contributions to a good credit score is to simply pay your bills on time.
Eliminate Credit Card Balance
A great way to improve your credit score is by eliminating your credit card balance. Pay off any small balances you may have on a number of your credit cards. Then, select one or two cards to use for everything. That way, you are not damaging your credit report with multiple balances.
Fix Your Credit Utilization Ratio
If your credit card balances every month are more than 30% of your credit limits, your score is suffering, even if you’re paying off your balances in full every month by the payment due date. Make sure to keep an eye on those balances or even prepay some of them.
Don’t close any accounts
How long your accounts are open has an impact on your credit score. Keeping accounts open helps with your credit age and utilization.
Monitor Your Balance
Watch your credit card balance, pay it off in time, keep it low and use credit responsibly!
The Michelle Cantrell Group wants to help you find your dream home! Specializing in all types of real estate throughout Springfield and surrounding communities. We are committed to providing the best real estate services, along with the greatest expertise and professional, personalized service to each of our clients.
We believe we have more to offer both home buyers and sellers. Our team of highly trained professionals specializes in marketing, financing, advertising, photography, graphic design and staging to make sure every single property gets the attention it deserves. Our team leads the industry in getting your home sold! We sell more because we do more! Our goal is to win the referral of your family and friends!