5 Ways To Improve Your Credit Score

Dated: April 17 2018

Views: 12

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!

Image title

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. Monitor Your Balance

Watch your credit card balance, pay it off in time, keep it low and use credit responsibly!

Blog author image

Michelle Cantrell

Michelle is a native of Southwest Missouri and has twenty-eight years of experience in selling real estate in the greater Springfield area! Michelle specializes in all price points, including new cons....

Latest Blog Posts

Design Trends You’ll See Everywhere This Year

Interior design has a fresh look! After years of subtle trend changes, this year style gets a complete makeover. Spaces are being lightened, softened, and eclectic merging of styles encouraged. If

Read More

The Community and Economic Impacts of a Home Sale

If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. What you may not realize is that decision

Read More

Real Estate Home Inspections and Appraisals in the New Normal

Even during the COVID-19 outbreak, real estate transactions go on. Buyers and sellers still need to move, and the industry is looking for new ways to accommodate both the needs of the transaction,

Read More

7 Cool Ways to Repurpose Old Furniture

Are you looking for a fun project that will add some pizzazz to your home – that doesn’t require a degree in carpentry? Before you leave your old furniture on the curb with a sign that

Read More