July 13, 2022 at 12:21 am

5 Ways You Can Make Your Credit Score Go Up

by Matthew Gilligan

We all want better credit, right?

It helps you out when you want to buy a car or a house or anything, really.

A good credit score is considered around 650 and the maximum score you can have is 850, for those of you taking notes out there.

Read on to learn about 5 great tips that can help you improve your credit score.

1. Gotta be on time!

Be sure to make your monthly payments on time every single month. This will go a long way in improving your credit score.

If you need to, set up a payment calendar you can stick to or make autopayments.

This is a huge one!

2. Lines of credit.

After you’ve successfully set up one line of credit and you keep your credit utilization low on that one, open up more lines of credit to boost your score.

Most Americans use three or four credit cards and it’s another way to boost your score if you manage your lines well.

Screen Shot 2022 06 20 at 9.56.48 AM 5 Ways You Can Make Your Credit Score Go Up

Photo Credit: Pixabay

3. The B word.

You have to stick to a budget if you want to maintain a good credit score. Bottom line: you have to live within your means.

One good tip is to review all your paid subscriptions and automatic payments you make and simply get rid of the ones you don’t use very often.

You’d be surprised how many people have monthly charges that they’ve completely forgotten about…

4. Only do it when…

You should only apply for a line of credit, loans, and new credit cards when you’re ready to make a purchase.

Every time your credit is run by someone, there’s an inquiry against your credit score. Too many “hard” inquiries can lower your credit score.

5. Low credit utilization.

Your credit utilization is the percentage of your available credit that you actually use. You should aim to use 30% or less of your credit at a time, but people who have the highest credit scores use under 10%.

Good to know!

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