Helpful Services Credit Karma on how you can improve your credit health
What are you willing to do to other to improve your credit score?
Granted you might have an amazing credit score (credit score ranging from 780 to 850), there is still room for improvement. To be brutally honest, improving your credit score is not going to be like walking in a park. Just as it took a while for you to build a bad credit score, it would also take considerable time and effort for you to improve your credit score.
Fortunately, www.creditkarma.com and other sites like it provide you with tips and credit score check services that would help you to be able you fully repair your credit score.
The credit score shows how good or bad your payment patterns have been over time. Let us say your credit score is your eating habit, then having a bad credit score would mean that you are obese, while having a good credit score would mean that you are fit, and just as you need to change your eating habits to go from obese to fit, you will also need to change your payment patterns to improve the health of your credit score
If you are looking for fast lanes or shortcuts to make your credit score better, then you might as well stop reading this article because you will not get that here. Rather this article will highlight responsible financial habits that would help you improve the health of your credit score.
Without much further ado, here are 5 tips that can help you.
- Always pay your bills on time: Nobody wants to lend money to a person that would not return it. That is just how things are. Lenders are more likely to lend you money when they know that you will pay them back at the agreed time.
Paying back your bills on time, every time shows that you are reliable and trustworthy. These bills go beyond just your credit card; it involves your rent and cellphone bills.
It would be great for you to set up payment reminders so that you do not forget to pay your bills as at when due.
- Lower your credit card utilization: Credit utilization ratio simply put is how much money you owe divided by your total available credit or credit limit. The result is usually expressed in percentages and lenders love it when the ratio is below 30 percent. You can improve your credit utilization ratio by paying the complete credit card balances every single month. You could also open new credit accounts so as to improve the entire ratio.
- Keep outstanding debt to the minimum. Accumulating debt will hurt your credit score, especially when you don’t pay it off as at when due.
- Be self-disciplined. Self-discipline will help you not to use or max your credit cards out especially when there is no genuine reason to do so. When you don’t use your credit cards you would have a better ratio.
- Apply for new credit accounts. Doing this would make you have a larger credit limit, which would, in turn, improve your credit score.
Some lenders also feel more comfortable when they are lending money to people who have a mix of credit cards (People that borrow money for diverse reasons)
Be careful however not to open too many credit cards at the same time or within a short period of time.
- Closely monitor your credit score. Ask for your credit report so that you can check to identify any mistakes and clear right away. Monitoring your score will also help you to suspect if you are a victim of identity fraudsters that would cause you to have bad credit and loss of money. Sites like www.transunion.com, landing.thecreditpros.com, www.myfreescorenow.com and www.experian.com can help you with a free credit score check.
As a bonus, you could also earn some money while you help yourself and others to have a good credit score. How? www.curadebt.com offers you the opportunity to earn by helping people find a solution to their debt problem as a debt relief affiliate.
This means that you earn for every person or company that you refer to us curadebt’s services. Payouts go as high as $500