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Tips to Achieve a Healthy Credit Score

Improve Credit Score http://www.checks-superstore.com/blog/tips-achieve-healthy-credit-score/

 

Your personal credit score is something that can affect your buying decisions in more ways than one. If your score is in the poor or bad range, you can be denied for loans and large purchases. You can also end up paying exorbitant rates on the loans that you do manage to get approved. A good score will help keep your costs down with great rates and more easily accessible money when you need it.
 

With millions of people lowering their credit balances and ditching credit by relying on cash and debit to pay bills now, many are of the wrong mindset that they do not need a credit score, or even a good one. That kind of thinking is not correct and may come back to haunt you. Credit is needed for large purchases like a mortgage and a car. Knowing how to improve your score is something that is always needed and we are going to share some tips to help you achieve a healthy credit score.
 

1) Don’t use your card for items you cannot normally afford. That is a fast way to having way more debt than you can afford.
2) Keep your balances lower than your maximum credit limit. Spend no more than 70% of the limit
3) Always pay higher than the minimum amount to pay for interest and to get it paid down faster
4) Don’t use the card for consumables like gas and food. Why pay interest on something you no longer have?
5) Always look for lower rates and negotiate if possible or switch cards
6) Never pay late. If you are going to be late, call ahead before the due date
7) Watch your credit reports for mistakes and get them corrected immediately if you do seen one
8) Focus on paying off your credit cards quickly but don’t close them if they are at zero balances. You need the credit lime to help achieve your score.
 

These 8 tips will help you improve your score quickly. Be mindful of your credit score as you will have your whole financial life and you want it to work for you and against you.
 

image courtesy of Stuart Miles and freedigitalimages.net
 

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