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.
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%.
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.