Five tips for improving your credit.
In this day and age with consumer debt running sky high it’s important to know how to keep a clean credit score.
The truth is its not that hard, provided you aren’t using credit to support a lifestyle that isn’t affordable. With the following tips you can achieve a high credit score thus making it easier when it comes time to buy a home.
Lets look at the simple tips:
- Paying bills on time is essential. Make sure you pay before the due date or risk having a late payment show on your credit bureau.
- If possible pay the balance in full each month. If you do, you know your are living within your means. If your balance continues to go up each month and you only make a minimum payment, it will eventually lead to a lower credit score.
- If you have debts, use a budget to deign a way to pay them off. You may want to start by paying off the highest interest rate debt first.
- Keep an eye on the limit of various credit sources. Going over the limit will go against your credit score. It’s best not to exceed 50% of the available limit on any given credit source.
- Keep the number of credit inquiries to a minimum. Don’t apply for credit just because it’s offered to y you. Think about having one credit card for day-to-day purchases that can be paid monthly and perhaps one credit card for emergency use.
Do you have any credit tips?