There are a ton of reasons why you’d want to have the best possible credit score on any given day. Most days, we just like to have our best foot (or score) out there anyway.
You know, just in case someone takes a peek.
If you’re wondering if there are some simple ways to give yours a boost, it turns out there are – and here are 5 tricks you might want to try.
5. Keep open lines of credit.
It can seem counterintuitive, but having open lines of credit that are being utilized well – payments made on time and the full line not being used, for example – can really improve your score.
Most experts advise you start with one, and once you feel comfortable with your ability to maintain it, think about opening another.
4. Make your payments on time.
The best thing you can do month in and month out is to always make your payments on time.
Use a calendar and keep track to make sure you’re not late or missing something on accident.
3. Don’t run your credit unless you absolutely have to.
Every inquiry into your credit is going to negatively impact your score, so do it with care.
Plan to apply for loans, credit, cards, and other lines of credit only when you’re ready to make a purchase through them pretty much immediately.
2. Don’t use all of the credit available.
The lower your credit utilization – which is how much of your available credit you’re actually using – the better your credit score.
According to experts you want to use 30% or less at any one time, but under 10% is actually ideal.
The key is to charge smaller amounts and pay them off every month.
1. Budget, budget, budget.
Credit cards aren’t there so you can live above your means – ideally, you should be using the cards to your advantage, not to get by.
To increase your credit score you’ll need to prove you’re aware of your spending habits and that you can and do live within your means.
If you’re not sure where some of your “extra” is going every month, check your subscriptions, streaming services, and other automatic payments you’ve set up, as well as the number of times you eat out every week and/or month.
These seem easy enough – might as well give it a go!
If you’ve got other easy tips for us, please leave them in the comments!