How do I get and keep a good credit score?
There are no secrets to building a strong credit score. but following these guidelines should help:
- Pay your bills 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. If you’ve missed payments, get current and stay current.
- 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 in proportion to your overall credit limit. Experts advise keeping your use of credit at no more than 30 percent of your total credit limit.
that you need.Credit scores look at your recent credit activity as an indicator 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.
Tip: If you close some credit card accounts and put most or all of your credit card balances onto one card. it may hurt your credit score if this means that you are using a high percentage of your total credit limit.
Tip: Check your credit report regularly and make sure the information in your credit reports is correct. Visit AnnualCreditReport.com to get a free copy of your credit report from the nationwide credit reporting companies. You can receive a free credit report from each of the big nationwide credit reporting companies once every 12 months.
Tip: If you have a problem with credit reporting, you can submit a complaint with the CFPB online .
We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.Source: www.consumerfinance.gov