Just Okay? Ways You Can Build Up Your ‘Fair’ or ‘Good’ Credit Score
Your credit score can have a huge impact on your entire life. A poor or fair credit score can make it difficult for you to finance a purchase or even get a job. Because of this, you should make sure that your score is as high as possible. Even if your credit score isn’t bad, there are still things you can do to improve it. If your credit score is just okay, here are some ways that you can increase it.
Pay Down Your Credit Cards
Many individuals don’t realize what an impact the balance on their credit cards can have on their credit score. While you don’t have to completely pay off all of your credit cards to have a better credit score, you shouldn’t utilize more than 10 percent of the balance if you want your credit score to be as high as possible. Additionally, if you’re going above 30 percent utilization, you could be hurting your credit score.
Make All of Your Payments on Time
Late payment can have a huge impact on your credit score. Unfortunately, it can take months for your credit score to rebound after having just one late payment. This is why you need to strive to make all of your payments on time. If you find yourself having trouble keeping track of each payment date, you may want to consider signing up for automatic payments. This will ensure that the balance due is automatically withdrawn from your checking or savings account every single month without you having to remember to do anything. You may even get a better price when you sign up for automatic payments.
Have Inaccuracies on Your Credit Report Removed
It’s not uncommon for some individuals to have inaccuracies on their credit report and not even know it. These inaccuracies can cause them to have just okay credit. If you are struggling to increase your credit score, check your credit report to see if everything on it is correct. If you find things like accounts that don’t belong to you or incorrect account balances, do what you can to have these inaccuracies fixed.
Seek Assistance From Financial Management Services
Your credit score may only be fair or good because you have a lot of debt that you are struggling to pay off. If this is the case, it’s a good idea to seek the assistance of financial management services. They can go over your finances with you and help you come up with a plan to pay all of your debt down. They can also give you more information and tips on how to avoid that much debt in the future.
An outstanding credit score can make your life a whole lot easier. Fortunately, you don’t just have to just live with fair or good credit. There are numerous ways that you can build up your credit score so that it goes from just okay to excellent.