If your credit score isn’t the best, following these 6 smart tips to improve your credit score will open up new opportunities for you.
Good credit is needed to buy a house, a car, obtain a loan, and in some cases, get a job.
Having bad credit doesn’t make you a bad person, but it can limit you from getting the things you want or getting them at the best prices.
Right now, to get the best rates on loans, a credit score of 720 or higher is required. You can check your score at myfico.com.
If your credit score is not 720 or higher, following these steps will help get you there.
6 smart tips to increase your credit score
The first step to improving your credit score is to pay down any credit cards you may have. Once your debt is paid off, you will see an increase in your credit score in about 30-45 days.
- Get a free copy of your credit report at AnnualCreditReport.com. From this site, you will be able to receive a free copy of your report from TransUnion, Equifax, and Experian.
- Take a look at each report and compare them to make sure they are reporting the same information. If you spot any errors or something you don’t recognize, dispute it. Each credit company will allow you to submit a dispute, or you can call them and dispute it over the phone.
- Check your bank and credit card statements daily to catch any errors.
- Sign up for notifications that let you know when your accounts cross a spending threshold.
- Join a program that alerts you to the first signs of identity theft. These programs can be expensive but are worth it if you are worried about identity theft. Start your research with LifeLock.
- Pay your bills on time!
Taking the above measures will ensure that you will improve your credit score, which will increase your chances of obtaining the best rates when you need them.
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