How to Improve Credit Scores
Things You'll Need:
- credit cards
- Home mortgages
- Car loan
- Cellphone contract
- Renting an apartment
- Job application
Instructions
• Pay the bills on time. I would suggest you pay bills online or via phone. It is quick and ensures that you do not miss a deadline
• Check your credit reports regularly. Annualcreditreport.com provides one free report every year from each credit bureau. Call the credit bureaus if you discover some new accounts or activities that you did not authorize
• Never cancel credit cards you have had for a longtime. Cancelling erases all history and lowers scores. So keep the card open and pay the minimum due. However, if the credit card has a high balance with high interest, consider applying for a new card with low interest and pay off the old card and then pay off the new card. There are many credit cards companies offering zero interest for 6-12 months for some credits cards. Apply and use them instead
• Shop for loans from multiple banks within a two weeks period because this is considered as a single inquiry. Multiple inquiries can hurt the scores but they are okay within a two weeks period
Tips & Warnings
- A good credit score saves you lots of money because banks are able to loan you money at low rates
- Visit Resources section for more information
- protect your personal information to prevent identity theft
Published by Esther Sherry, R.N.,B.S.
Esther Sherry is a registered nurse with extensive experience in health and wellness. She holds a B.S in nursing, B.A in psychology and has worked for more than five years in the healthcare field. She enjoys... View profile
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