How to Improve Your Credit
The better your credit is, the more favorable rates and terms you’ll qualify for. Therefore, it’s a good idea to improve your credit as much as possible. Before you do so, visit to check your credit report. Once you know where you stand, follow these tips to increase your score.
Pay Your Bills On Time
Even one late payment can ding your credit. Pay your mortgage, rent, utilities, car loans, and other bills on time, every time. Enroll in automatic payments or set calendar reminders on your phone so you don’t forget and miss a payment.
Keep Your Credit Accounts Open
Your length of credit history will have a direct effect on your credit score. Generally speaking, the longer you’ve had your credit accounts open and in good standing, the higher your score will be. If you can, try to keep your old accounts open, even if you want to avoid using them or have a zero balance.
Reduce Your Credit Utilization Ratio
The amount of debt you have divided by the amount of credit available to you is known as your credit utilization ratio.