Home » Featured
Posted on 19 January 2020 | 4,877 views

20 Quick Tips to Improve Your Credit Score

There are many misconceptions about credit scores out there. Every time you apply for credit, apply for a job that requires you to handle money, or even apply for some apartment living, your credit score it checked.

Use the following 20 ways to improve your credit score and save money.

1. Pay your bills on time — up to 35% of your credit score is based on this one tip.

2. Avoid excessive credit.

3. Pay down your debts — this will boost your credit score faster.

4. Have a range of credit types. Lenders like to see that you can handle different types of credit such as a mortgage, car loans, and credit cards.

5. Look out for identity theft. Always check your account statements at least once a month and report any suspicious activity immediately.

6. Beware of debts and credit that you don’t use. Lenders are afraid that you might overextend yourself with several open lines of credit.

7. Be careful of inquiries on your credit report. If you have lots of inquiries on your report, it may appear that you are shopping for several loans at once and more of a risk.

8. Contact creditors as well as credit bureaus when correcting inaccuracies in your credit report.

9. If you have bad credit, establish better credit by taking out credit and repaying it quickly.

10. Try secured credit if you cannot qualify for other types of credit.

11. Don’t choose bankruptcy as an easy out.

12. Learn to budget — poor credit is generally caused by overspending. A budget can tell you how much you should be spending on each item in your life.

13. Get out of the spending habit — instead of buying a book, go to the library. There are several way you can save money and pay off your debts faster by spending less.

14. Save — most banks and employers will let you deduct a certain amount of money from your paycheck and put it into investments.

15. Keep track of your money — impulse spending really adds up.

16. Don’t move around a lot — lenders like stability.

17. Don’t change jobs frequently — again, lenders like stability.

18. Avoid changing credit companies and credit accounts a lot. Switching accounts makes you appear fickle and less than reliable. Instead, see if you can negotiate with your current company to get a better interest rate.

19. Always be sure that your creditors know your current address. It may make you look like a deadbeat debtor which will cause your credit score to plummet.

20. Set aside a regular day, time, and place for paying bills — this will let you take care of your finances on a regular basis.

Use these ways to improve your credit score and get your finances back in shape.

20 Quick Tips to Improve Your Credit Score

Social Media!

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Technorati
  • Mixx
  • Pinterest
  • Google Plus
  • Reddit
  • BlinkList
  • Blogger
  • Tumblr
  • Digg

Tags: , , , , , , , ,

Rate This Article!
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)

One Comment »

  • Caryl Anne said:

    Very informative post! Learning how to budget can transform anyone’s life for the better, especially when it comes to reaching financial goals, etc. Thanks for sharing these tips!

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.

CommentLuv badge

Why ask?