How to Start Improving Your Credit Score Today
Whether you’re interested in quick fixes or are looking for long-term solutions, working to improve your credit is a good idea. Below are 10 tips that will help you improve your credit score.
Make Payments on Time
Consistently making credit card and loan payments on time is one of the biggest factors of your credit score, notes myFICO. Set up reminders on your phone or email so you don’t miss a payment.
Change Your Payment Dates
One tip to help you make sure you can cover your payments on time is changing the dates your payments are due. Set up your payment schedule based on when you get paid, advises Intuit. Consistent and timely payments have a big impact and will greatly improve your credit score over time.
Pay Off Owed Money
The amount of credit you have versus the amount of credit you’re using is a factor in your credit score. Stop borrowing money, and pay off what’s already owed, advises myFICO. This is one of the best ways to relieve stress, and improve your credit score fast.
Keep Credit Cards Open
Once you pay off a credit card, you may be tempted to close the account. However, in order to keep your credit score higher, you should actually keep the credit card open, says myFICO.
Keep an Eye on Your Credit Report
In order to know how you’re doing, keep an eye on your credit report. Some people think that checking their score will affect it, but that’s not the case, states myFICO.
Dispute Wrong Information on Your Credit Report
If you check your credit report and notice that there’s wrong information, take action to resolve it. Dispute any errors promptly, advises Experian. Consistent credit fix reviews will improve your credit score as well as develop the habit of staying on top of any inconsistencies.
Think Twice Before Opening New Accounts
According to Experian, opening a bunch of accounts won’t help your credit score. In fact, it’s better to avoid multiple hard inquiries into your credit report and manage your existing debt.
Have a Mix of Loans
Another way to improve your credit score is to have a variety of loans. Instead of having just credit card debt, you want to have a mix of loans, reports Intuit. This means considering having credit cards, loans, utility bills, etc.
It Takes Time
While you may want to know the quickest way to improve your credit score, the reality is that it isn’t something that happens overnight but rather takes time. Some things can take days and in other instances, things can take months to show up on your credit report, claims CNN.
Become an Authorized User
If you become an authorized user on someone else’s credit card, that can help improve your credit score, notes Intuit. Of course, that depends on the authorized users’ card status, so tread carefully.
When all is said and done, staying on top of things, making payments on time, and being patient are just a few things you can do to improve your credit score.
