_{SOURCE: consumerfinance.gov}

Boost your credit score in 5 simple steps!

From paying your bills on time to checking your credit report regularly, these tips will help you achieve a better credit score in no time. Don’t let bad credit hold you back!

Pay your loans on time, every time

One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders.

Don’t get close to your credit limit

Credit scoring models look at how close you are to being “maxed out,” so try to keep your balances low compared to your total credit limit. Experts advise keeping your use of credit at no more than 30 percent of your total credit limit. 

A long credit history will help your score

Credit scores are based on experience over time. The more experience your credit report shows with paying your loans on time, the more information there is to determine whether you are a good credit recipient.

Only apply for credit that you need

Credit scoring formulas look at your recent credit activity as a signal of your need for credit. If you apply for a lot of credit over a short period of time, it may appear to lenders that your economic circumstances have changed negatively. 

Fact-check your credit reports

If you spot suspected errors, dispute them. If you have old credit card accounts you are not using, keep an eye on them to make sure that an identity thief is not using them.

Share your own tips for improving credit scores!