Do you want to raise your credit rating?
Tired of being stuck beneath a terrible credit rating? Or, worse still, are you not even sure why a low credit score is such a bad thing? If you are in the latter camp, you’re in plentiful company. Many people don’t understand that a poor credit rating will make loans harder to get, and more expensive when they are supplied. A poor record could make it harder to get that good job you’re looking for, and could ultimately keep you poorer, longer than you would be with a good credit rating.
That sounds pretty bad. But luckily, it doesn’t take much to boost your score. Follow the advice in the infographic (provided by our friends at icount) and you’ll start to see improvement in less than a month. If you remember these principles, you can constantly apply them, and see your credit score well above average for the rest of your life. The infographic has a lot of principles, but here are a couple in greater detail.
- Ask for Higher Credit Limits. One reason that people see their credit ratings plummet is that they use too much of their available credit. Some people recommend that you only use 20% of a credit limit, or less. If you can’t make this work, why not ask your credit provider to boost your credit limit? If you keep your charging behavior the same, this could keep you in the “sweet spot” and not be such a burden on your credit score.
- Pay on Time. Your credit rating is usually penalized when you pay your bills late. Make sure to make payments on time, whenever possible. If you can’t make ends meet, try never to let payments go more than a few days late, as sometimes you will not be penalized for this.
There are a bunch of other tactics to boost your credit score. None of them are hard to understand. Practice them for life, and you’ll build a better future for yourself and the ones you love.