5 Ways To Improve Your Credit Score

Your credit score is a number that tells creditors how likely you are to pay your bills on time.

If you want to improve your credit score, there are several things you can do. Here are five of them: 

Check Your Credit Reports

To find out what’s on your credit reports, you can contact each of the three major credit companies (Equifax, Experian, and Clear Score) to obtain a free copy of your report. Each will have slightly different information depending on when they last reviewed it. 

Check Your Credit Utilization

Credit utilization is the amount of credit you use compared to your total available credit. For example, if you have a $1,500 limit on one card and use less than 1% of that available credit, your credit utilization ratio is 5%. 

Tackle Debt And Pay Down Credit Card Balances

The best way to improve your credit score is by paying off all of your balances and eliminating debt. 

Don’t Apply For Every New Credit Card That Comes Along

If you’re trying to boost your credit score, it’s essential to understand what factors are being measured and how each factor is weighted. The most important thing to remember is that your credit mix matters more than the amount of debt you have or how much time has passed since you last applied for a card. 

Monitor Your Credit Score And Get Alerts When It Changes

Credit monitoring services give you free access to your credit report, which is a valuable resource for understanding what’s in your credit history and how it’s affecting your score.  

Swipe up now to read the full post!