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How to Increase Your Credit Score in 5 Steps
Dated: March 30 2021
Do you feel embarrassed about your credit score? Are you curious about how you can keep improving it? Here are 5 tips to help you bring up your score.
Make your payments on time- Your payment history is the MOST INFLUENTIAL factor for the most common scoring systems. Your credit score is essentially a reflection of your ability to pay back debts effectively.
Leave old debts on your record- I know, I know. This might sound crazy but having an account with a long history and solid track record for paying the bills on time, every time, are the types of responsible habits that lenders and creditors look for.
- Take advantage of the credit boosting programs. There are programs that allow consumers to boost a thin credit profile with other financial information. Do your research!
- Monitor your credit- Monitoring your credit score’s fluctuations every few months can help you understand how well you are managing your credit and whether you should make any changes.
- Patience is key- Rome wasn’t built in a day! Neither will your credit score be. Establish good habits, like paying your balances on time, keeping a low utilization rate, and applying for credit only when you need it, and you should see those practices reflected in your score over time.
Don’t let a low credit score scare you away from taking the steps to prepare for buying a home. I’m connected to lenders here in Dallas! Message me if you would like me to help you get in contact with them!
**This content is for informational purposes only. For further information talk to a financial professional.