6 Tips for Boosting Your Credit Score

If you’re just starting to become immersed in the world of credit, you may not understand the full importance of a good credit score. You need a good credit score to get approval for a loan, to buy a car, or rent an apartment. With a good credit score, you find yourself able to get higher credit limits, and have lower rates on things like car insurance. So what can you do to boost your credit score? There are a lot of ways to do it, and they aren’t too convoluted, if you hold yourself accountable you should have a high score before you know it. Here are some ways to boost your credit score.

1. Keep a job for a long time

When you have a job for at least a year or more, it implies stability. Creditors are going to want with people who have a steady paycheck opposed to people who go from job to job.

2. Pay credit payments on time

This is purely common sense, if you make your credit payments on time, it can only help your credit scores. Closely monitor due dates to avoid delinquent payments. You don’t need to pay it off fully every month, but your payments should always be on time.

3. Pay all other bills on time

Every other payment you owe has a direct influence on your credit score, so stay on top them the same way you would your credit card bills. Pay on time for your own peace of mind, you won’t regret it when you don’t receive pesky notifications from creditors. Save yourself the hassle.

4. Use Rental Reporting Services

When you attain the good habit of paying ALL of your bills on time, you should enlist yourself on a Rental Reporting Service so that you’re on-time payments can be recorded, boosting your credit score. Don’t let any good credit deed go unnoticed.

5. Get a co-signer

If you’re looking to buy something you don’t have credit for, or you’re trying to build credit in the first place, you should see if someone will co-sign with you so you can do build and/or establish your credit. If you get a nice person to co-sign something with you, you need to be extra persistent with making payments, otherwise their credit will suffer with yours. Don’t let their good deed become a mistake.

6. Become an authorized user on someone’s card

Becoming an authorized user on the card gives you the opportunity to build your credit without being obligated to make an actual payment. It’s advised that you and whomever you share a card with have an agreement to HOW MUCH you’ll spend per month to avoid any financial ugliness.

Honestly, it’s not that difficult to raise your credit score. It really comes down to holding yourself accountable and knowing your limits. Credit cards are meant to be used rationally, but you can get yourself in a world of trouble if you’re irresponsible. Don’t spend too much, and pay EVERYTHING on time. You will then see positive changes to your credit score.