Smart Moves That’ll Help You Raise Your Credit Score
Are you looking forward to increasing your credit score? Then numerous smart moves are available for you to consider and move forward with. Here is a list of some of the most prominent smart moves out of them. Any person who wishes to improve their credit score will be able to take a look at them and move forward.
- Pay all your bills on time
As the first thing, you need to learn how to make your bill payments in a timely manner. Your bill payment habits for a duration of 24 months will be considered when calculating the credit score. Therefore, you shouldn’t think about delaying the bill payments even for one time.
- Refrain from closing credit cards
You should learn how to manage your credit cards effectively to boost the overall credit score as well. This is where you need to refrain from closing the credit cards. Once you close a credit card, the overall credit limit change. It will also create an impact on the utilization of the credit card. If you notice that you are paying an annual fee on a credit card that you are not using, you can simply ask the credit card company to transfer it to a card where there is no annual fee.
- Apply for credit sparingly
You shouldn’t apply for credit too often as well. That’s because your credit applications are capable of creating an impact on the credit score. If you are looking forward to applying for a few credit cards within a short duration, it is high time to reconsider your decision.
- Piggyback on the credit of your parent or partner
It is possible for you to boost the credit score by becoming the credit card user of your partner’s or parent’s credit card account. Then you will be able to get that person’s credit history to be visible on your credit report. Even if you are not legally responsible for repaying the debt of the person, it will help you to boost the credit score effectively.
- Have a great mix of accounts
It is better if you can keep many different types of credit accounts. Then you will be able to prove the overall ability that you have to deal with a variety of loans. For example, you can have auto loans, mortgage loans, and student loans. Open accounts such as electricity bills and mobile bills can also benefit you.