Ways To Boost Your Credit Score

Is your credit score on the low side? Is it causing you stress? Luckily credit scores are made to change. 

Your credit score and credit report are snapshots of your overall financial activity and financial health. Every payment you make, every credit card you apply for and every loan you have taken out are reflected there. So with that in mind, how can you improve your score?

Make Payments On Time

One of the easiest and most fundamental ways to increase your credit score is to make your payments ontime. Even one late payment can negatively affect your credit score and linger on your credit report. If you want to increase your score make sure you stay on top of all of your payments.

Stop Applying For Cards

It’s tempting to open a new credit card to take advantage of new perks or a discount at the checkout of your favorite store. But opening or applying for too many credit cards will damage your credit. If you want to increase your score you have to stay away from new credit cards. Even just applying for new cards too often can ding your credit!

Decrease Your Credit Utilization

One of the fastest ways to boost your credit score is to lower your credit utilization rate. Your credit utilization rate is the percentage of your available credit you have used. A rate of under 30% is ideal but the lower, the better. To lower your utilization you either need to make a payment or increase your available credit by asking for a limit increase on a credit card. The more unused credit you have available the better it is for your credit score.

Take A Break From Using Your Cards

If your balances have been increasing and increasing it’s time to put your cards down. Taking a break from using your credit cards so you can make payments without adding to your balance is a great way to make some progress paying off your debt. After all, the less debt you have the better your credit utilization ratio will be.

Fixing your credit can be as simple as making a call! We're here to help you rebuild and understand your credit. Give us a call to get started or learn more about what we can do for you 1-800-431-0449.