- Pay bills on time
- Reduce credit card balances
- Check your credit report regularly
- Limit new credit applications
- Consider a credit builder loan
Pay bills on time
Paying bills on time is crucial for improving your credit score. Set up automatic payments or reminders to ensure you never miss a due date.
Reduce credit card balances
High credit card balances can negatively impact your credit score. Aim to keep your credit utilization ratio below 30% by paying down balances.
Check your credit report regularly
Monitoring your credit report can help you identify and dispute any errors that may be dragging down your score. You can access a free copy of your report from each of the three major credit bureaus once a year.
Limit new credit applications
Each new credit application can result in a hard inquiry on your credit report, which can temporarily lower your score. Be selective about applying for new credit.
Consider a credit builder loan
If you have trouble qualifying for traditional credit products, a credit builder loan can help you establish a positive payment history and boost your credit score over time.