A simple guide to helping you quickly boost your credit score.
Good scores are your passport to competitive interest rates on mortgages, cars, credit cards, and more. Strong scores can help you get that apartment rental and save up to thousands of dollars from interest rates.
1) First off, lets state the obvious here. Before you know the best credit card to get for your credit score, you have to actually know what your credit score is.
Lucky for you, finding that answer is easy. If you don’t already know it, we recommend FreeScore360. It’s super easy to use and will allow you to access your credit from all three bureaus instantly.
2) Set up payment reminders. Making payments on time is one of the biggest contributors to your credit score. 35% of your FICO score is calculated based on payment history. Use automatic payments whenever possible so you never miss a payment.
3) Pay down your balances. 30% of your FICO score is based on your credit utilization ratio, the amount of credit used compared to your limit. If you’re carrying balances higher then 30% pay them down. Anything higher then this will negatively affect your credit score. Use savings or your tax refund to pay these balances down.
Bonus Tip: One in 5 credit reports has errors. This could be because your identity was stolen or a debt you paid off wasn’t properly reported. Reporting and getting these errors removed from your credit report can automatically improve your credit. FreeScore360 has a dispute center that can assist you in checking and fixing your credit report.