- Pay bills on time
- Reduce credit card balances
- Check your credit report regularly
- Limit new credit applications
Pay bills on time
Paying bills on time is crucial for improving your credit score. Late payments can have a significant negative impact on your credit report. Setting up automatic payments or reminders can help ensure timely payments.
Reduce credit card balances
High credit card balances can negatively affect your credit utilization ratio, which is a key factor in determining your credit score. Paying down credit card balances can help improve your credit score.
Check your credit report regularly
Monitoring your credit report for errors or fraudulent activity is important for maintaining a healthy credit score. You are entitled to a free credit report from each of the three major credit bureaus every year.
Limit new credit applications
Applying for multiple new credit accounts within a short period can lower your credit score. Limiting new credit applications can help maintain or improve your credit score.