Credit score report with calculator and organizer book

Credit Score: Improve Yours in 3 Smart Ways

Direct Finance

When in a financial quagmire, you will need some cash to fix things. One sure way of getting this much-needed cash is by approaching a mortgage lender or any other financial institution. However, there is a process and the vital things that will determine whether you are going to get the loan or not.

One of these is your credit score. A good credit score will give you a bargaining chip and hence the need to improve it. Below, find three smart but easy ways through which you can boost your credit score.

Stay on top of your bills

You have to pay bills religiously. So, ensure that you pay yours and pay them on time. These include your credit card payments and any other monthly bill. Your mortgage lender in Guilford will tell you that paying your bills late will hurt your credit score and consequently your dream of acquiring that loan.

If you are going through a rough financial patch, you can always talk to your creditors and work out the payment plan. This will ensure that you skip no payments, which goes a long way in improving your credit score.

Know your credit score

You cannot control or boost what you don’t know. So, check on your credit score. The best thing is that things have digital copies these days and you shouldn’t break a sweat in getting this. After you have your report, go through it and check on any erroneous entries.

When you come across one, launch a complaint and have it corrected on time. Also, this report will help you know your credit risks, so you get a chance to work on them.

Monitor your credit card use

Your credit card is a debt, and you should monitor this. First, ensure that you pay any outstanding balances on time. Then, ensure that you avoid any unnecessary use, which keeps your balances low hence improving your credit score.

The balance shouldn’t also exceed 30% of your credit limit.

When you are about to make a significant purchase such as buying a home, you will need financial help. And, your credit score can be the only hurdle standing between you and that dream. However, with the tips above, you will be on the right path towards boosting your credit score.