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How to Improve Your Credit
Now, more than ever, one’s credit score has a huge impact on what they can “afford”. Credit scores play a major role in determining your worthiness for mortgages, auto loans and credit cards. They can even affect your ability to get a job. Many of us, especially in these times, have a few, if not many, negative remarks on our credit reports. Because of that, I am going to give a few tips on how to build or rebuild your credit.
Pay your bills, in full.I know this is easier to say than do, but it is important. If you can, it is best to pay off your full bill every month. This s good for two reasons; One, when you pay your bill in full every month, you don’t pay any interest and two, it shows that you are well within your spending ability, given your income and credit.
Keep your balances low.It is best to keep your balances under 30% of your limit. It is better to spread your debt over a few cards than to have one card with a high balance and two cards with no balances.
Pay your bill on time.This is one of the most ... more
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