People can work hard to prepare for financial turmoil, but sometimes life just happens. When things get tougher financially, it’s not the end of the world. There’s a lot of easy steps you can take to improve your credit and ensure your finances are in good standing moving forward.
Pay down credit cards/debts: The number one way to increase your credit score is to pay down your credit cards. Using only 30% of your limits is a good guideline.
Limit the use of your credit cards: Racking up a large amount and then paying it off in monthly instalments can hurt your credit score. Use these cards only when you really need to, and pay them off quickly.
Know your credit limits: Make sure you know your credit limits for all of your cards, and don’t surpass them. Some financial institutions can be a little slower on reporting and it’s your responsibility at the end of the day to know what you owe.
Don’t let mistakes build up: If you notice an error on your bills, dispute them right away as they may harm your credit score. If there’s an error with a bill, whether it’s credit or utility, repair it right away so the credit bureau doesn’t take it into account.
Looking for some more tips on boosting your credit score? Feel free to contact me anytime with questions or comments.
