3 Ways To Improve Your Credit Score
Most people deal with credit in some aspect of their day to day lives and our credit score is more than just a number as it can cost or save you thousands of dollars throughout your life. So here are a few ways to improve or keep your score high.
Pay on time
Payment history makes up 35% of your credit score so making payments on time is one of the easiest and most impactful ways to maintain and improve your score.
Pay off any balances
Carrying a credit card balance not only costs money in interest, but will lower your score over time because new spending will raise your credit utilization, therefore lowering your score.
Ask for a higher credit limit
If you were given a low limit when you first got your card, requesting a higher limit can help improve your score by allowing you to keep your overall credit utilization lower.
It's typically recommended to keep utilization under ~25% but keeping it lower can help even more.
Essay #45 - 5.10.21