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In this economy and modern day, many people rely on credit and their credit scores for all kinds of important purchases. Whether it’s a home, a car, or even something like furniture, many companies look at your credit score before they sell something to you. Ultimately you will get a better deal if you have a good credit score, and likely smaller payments. It’s very important to keep track of and work on your credit score, so follow these great tips on how to improve your credit score!
1. Credit Karma.
This is hugely important! If you have smart phone, download the free Credit Karma app! You can use it on a laptop too, but I highly recommend downloading it to your phone so it serves as a reminder to practice good spending habits. You will always have it at your fingertips to monitor your score, be updated about any delinquencies, and even get typos for improving your credit.
2. Apply for a credit card.
This might seem counterproductive, but in order to improve your credit score, you need to prove that you can be trusted and responsible with credit. If your credit score is really low, Credit Karma will suggest some low limit secured credit cards that you have a good chance of being approved for, so look into those! Additionally, make sure you use them responsibly!
3. Use your credit sparingly.
Once you’ve got your credit card, use it sparingly. It’s important to note this is not a license to spend without cause or worry. You’re only using this card to build credit, not create more debt. As an example, use it for a tank of gas and set the cash you would’ve used aside so your able to go and pay that off right away. Remember, we don’t want to dig a deeper hole.
4. Pay off debts from smallest to largest.
It might seem beneficial to do the opposite, but the sooner you pay off a chunk of debt, the better. Start with the small ones so you can eliminate them completely and faster!
Following these simple steps will help improve your credit score as long as you follow them diligently!