Whether you’re looking to buy a new home, finance a new car, or even wanting to sign on a new rental contract, you’ll be surprised by how much your credit score can impact your options. It’s one of those things you don’t really think about until you need it and if it’s holding you back from moving forward in life, then you’re going to want to learn some quick ways to boost your credit score. Here are my top 4 that are going to get you good results, fast:
1. Get an Expert on Board
If you’re able to afford it, having an expert help you manage your credit score is absolutely worthwhile. If you’re hoping to secure a home loan, a decent credit score can be the difference between qualifying or not. It can also be the difference between a low interest rate that saves you thousands – or even tens of thousands – of dollars over the course of your loan. The simple fact is a bad credit score can cost you a lot, from lost opportunities to extra charges along the way. A coast tradeline broker can help you transform your credit score within weeks, opening up opportunities and more competitive offers for you and your family.
2. Check Your Credit Report For Errors
Do you feel like your credit card score is a lot lower than you’d expect based on your history? There could be some errors in your credit card report. You would be surprised by the number of Americans who have errors on their credit card score reports, often dramatically lowering their overall score. You may be able to dispute any errors and have them removed, which will hopefully quickly improve your overall score. There are a number of errors that you might find, but some of the more common errors include fraudulent accounts, duplicated accounts, and payments that are not correctly reported.
3. Pay More Than Your Minimum Credit Card Balance
If you can afford to always, and I mean always, pay more than your minimum credit card balance. The more you pay off your credit card balances each month, the lower your overall credit utilization will be, bumping your credit score up. This also helps you keep interest chargers lower, making it easier to get on top of your credit card debt, so it is a win win.
4. Increase Your Credit Limit
I have put this point last because I think it should be used with caution. If you’re the type of person who’s likely to max out their credit card, no matter the size, then this probably isn’t a good option for you to explore. But credit utilization is one of the factors that really makes a major difference on your credit score and it’s something you can control quite easily by paying back your debt, increasing your limits (without taking on new debt), or a combination of the two.
Credit scores are important for most financial aspects of our lives these days, so use these tips to take control of your credit score and to open up your financial options down the line.