Top Tips To Sweeten Your Credit Score

To get the most favorable interest rates you’ll need a credit score of 720 or higher. Someone with a credit score of 520 will receive higher interest rates on loans, up to four percentage point than someone with a 720 score. With that in mind, here are five quick tips to improving your credit score:

Be diligent

Once per year, get a copy of your credit report. Scrutinize it and make sure the information is correct.

Don’t be late

Pay your bills on time. Late payments damage your score. Consider automatic payments through your bank account.

Know the FICO

Understand how your credit score is calculated and do what you can to improve deficiencies.

Make repairs

If there are errors in your report, correct them. The Federal Trade Commission is a good resource for information.

Get smart

Don’t max out your credit cards and pay the balance in full, if possible. Avoid opening new credit card accounts or closing down old inactive ones.

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Bob Young

Bob Young

Real Estate for Sale in West Michigan
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