Having a good credit score is crucial when it’s time to buy a house, purchase a new car, or do anything where a credit score is considered. However, it’s all too easy to let a credit score drop to where it’s too low. If you’re looking to boost your credit score, use these tips to get started. These tips will help you not only boost your credit score but keep it up as well.
Pay All of Your Bills on Time
All of your bills need to be paid on time. If someone is interested in lending you money, they want to see that you’re going to repay them. According to money.cnn.com, paying a bill 30 days late can cause your score to go down and a single missed payment can have a huge impact on your credit score. Payments that are more than 60 days late can impact your score significantly and it can take quite a while to fix your credit score.
Get a Credit Card
If you don’t already have a credit card, go ahead and get a credit card to use responsibly. The key here is to make sure you don’t use much of your credit limit every month and make sure you repay it in full each month. Consider using the credit card for something like groceries, that you need to purchase every month but can fully repay with your current budget.
Avoid High Credit Card Balances
Whether you’re getting a new credit card or you already have a few, one of the most important things to do is pay off your balance and keep the account balances low. TheStreet.com recommends focusing on credit card debt since lowering card balances and making payments on time are a great way to boost your credit score as quickly as possible. Plus, the lower your balance is, the less you’ll pay in interest each month.
Look into Small Personal Loans
Small loans that can be paid off quickly and easily help to show that you’re responsible when repaying loans and that you can stick with the payment schedule until the loan is repaid. It’s possible to get help from Quickle to learn more about the loan options that are available to you. These loans are faster than traditional bank loans and are going to be easier for you to repay so you can use them to boost your credit score.
Manage Your Credit Carefully
Once you’ve repaid your credit cards, keep the balances as low as possible to help boost your credit score. You’ll want to keep the balance as low as possible. Most experts suggest keeping the balance on your credit cards at no more than 30% of your credit limit. This shows potential lenders that you are able to use the credit cards responsibly, and that you would likely be responsible with any money they lend you as well.
Getting a higher credit score does take some time. These tips, however, can help you boost your credit score as quickly as possible. Always work to pay your bills on time and to keep your balances low on any credit cards you have to ensure your credit score is as high as possible. By following the tips here, you can boost your credit score quickly and learn how to keep it high.