Your credit score is likely going to be a factor when it comes to major purchases. It will effect how much you’re paying, and even your capability of qualifying for that purchase. Today, we’re offering tips for anyone looking to raise their credit score.
First and foremost, it is vital that you pay your bills on time. Setting up payment reminders can be a great strategy to assure you don’t have overdue bills, whether that be through an alert on your phone or a post-it on your desk. No method to bump up your credit score will work unless you’re paying your bills at their due date. Additionally, staying well under your credit limit will help boost your score.
Here are our top tips for increasing your credit score:
- Pay your bills on time.
- Pay above the minimum payment.
- Be sure to make regular payments on installment debt.
- Don’t cut up stagnant credit cards: if you have cards with a zero balance, make small purchases periodically and pay it off quickly.
- Always report fraudulent activity immediately, and make sure your credit reports are accurate.
Paying your balance on time and staying under your credit limit are the best methods for increasing your credit score. An increased score will allow you numerous benefits such as lower interest rates on loans, higher credit limits, better rates on insurance, a greater chance of approval for a mortgage loan. By following these methods you will begin to see increases in your credit score!