Your credit score is one of the most valuable things you own. If you have a good credit score, you will pay less to borrow money, which will save you hundreds of dollars. How to keep a high credit score is the big question. Well, if you want to keep or fix your credit score, you're in luck, because it can be done in as little as two months.
Your credit score is based on a few main things. I'm not going to talk about them in any particular order (Some of them have higher weights in regards to the score). Repayment history, current debt, recent credit checks, and registered income (there are other factors as well). Follow a few of the steps below to fix or improve your score.
- Look up your credit score online with one of the official companies to find out what it is and why it is where it is. This will show you what you can do to really improve your credit score.
- Pay off all of your credit cards with a revolving balance. Revolving credit cards are like Discover cards and other monthly credit cards. Even if you pay off your credit card bill before the due date, the credit card company will still report the debt every month, which may be before the due date. It won't show up as bad debt on your credit score, but it will lower your overall score. Here are some of the most common suggestions. Pay off your credit card before the end of the month if you only have one. Second, if you have two credit cards, pay the minimum on both of them and work on paying off one of the first.
- Don't put in an application for every car, credit card, and house that you are interested in. Because your credit score is checked every time you try to buy a house, car, or new credit card. If you have had two or three credit checks within a few months of each other, your credit score goes down.
- Finally, open a savings account and plan how you will spend your money so that you always have extra cash to help you out when you need it.
- Income that was reported. This is how much money you get from your job. Basically, what you earn is matched up with the numbers they crunch. If you have more debt than you make, your credit score will go down. So, get a part-time job if you are a freelancer or if your income is just a little too low. This will make you more likely to make more money and more likely to be able to pay back your debt, which will raise your credit score.
Protect your credit score, because it can make all the difference when you're trying to buy a house or get money for whatever you need it for. It's easy to improve your credit score, but hard to keep it up. If you can buy a service to keep track of your credit score, it will protect you from fraud and let you know when you need to improve your score.
