Are you a newbie to credit? Do you already have credit established but you’re not happy with it?
Are you a credit veteran but you’re looking for ways to keep it up or raise your score? If your answer to any of these questions was yes, then this article is for you.
I will go through some of the things that you can do to help your credit report score and then go into detail on how to put into action each of my suggestions.
Good luck to all! Spend wisely.
Know what your credit report looks like
The first thing that you need to do when trying to keep your credit report score high is to know what exactly is on your credit report.
This can be done easily, quickly, and for free online. If you see things on your credit report that should not be there don’t’ be afraid to argue them. Sometimes mistakes can be done so make sure that everything is right.
Open checking and savings accounts
This is important because it will limit the amount of credit that you use.
If you open up a checking and savings account, the first place that you will go for money will be there instead of to your credit and credit cards. This will help you to keep your credit score high because you will not be using a lot.
Having a checking and savings account is also important to know how much you have and how much you can pay and how much you can spend; so check out your balances daily and keep up with your bank account summaries.
Know how your credit report is scored
If you’ve never looked at a credit report score before and you’re wondering how they develop your report score then you should definitely look into some online information to help you understand it better.
By knowing how it’s scored you will understand and hopefully take care of your credit better. Tip: Make some notes and look back at them when you’re considering going over or not paying something that you took out on credit. Looking over the way it’s scored can help you prevent damage.
Have someone with good credit help you out
If you are trying to get your credit report back on the good side then you should definitely have someone with good credit help you out.
Remember that you are very lucky if you find someone to trust you again since you obviously need their help because you weren’t punctual with your other creditors; so take care of these accounts even more.
Remember to always say thank you and use this credit wisely. You don’t want to let down a friend or family member as that can ruin your credit more and your relationship even a lot more.
Don’t hesitate to start your credit during college
Sometimes college students think or are advised to stay away from credit during college as that is the time when the maturity and intelligence to take to manage credit correctly and efficiently but certainly think about it. If you start your credit during college there might be some advantages to it.
You don’t even have to use it a lot; actually do that, don’t use it a lot. Use it enough to establish some credit and keep it up. Don’t spend more than you can pay and certainly don’t spend more than you make.
Get a loan to pay in installments
If you’re about to do a project that requires some money or if you’re just looking for a way to raise your credit report score and even if you’re just looking for a way to raise it higher than it already is – you should consider taking out a personal loan from a lender near you, or from a local bank.
Paying it back in installments can help your credit score a whole lot so make sure to keep them up and not default or give late payments.
Use your accounts regularly but lightly
This is the last step to keeping or raising your credit report score and it’s definitely important.
Make sure that you use your credit accounts regularly to have a good foundation on your credit, but also take into consideration your other payments and how much you will owe to everyone.
Taking that into consideration you will use credit lightly hopefully!