How To Build , and Maintain , Good Credit.
'The Independent' recently offered readers
advice for climbing out of debt
and improving their credit score. .
'The Independent' recently offered readers
advice for climbing out of debt
and improving their credit score. .
Here are 5 things
lending experts
recommend:.
1. Determine your credit, AnnualCreditReport.com can give you
a look at your current credit reports. .
Check to see that
everything is accurate. , Errors can be disputed and could
significantly change your score. .
2. Avoid costly setbacks, like paying late, closing cards and keeping card balances above 30% of your credit utilization limit. .
The impact of these missteps on your credit score can be significant and enduring. .
3. Take a strategic approach
to paying back debt. , Strategies like the "snowball method,"
which focuses on the smallest balances first,
can help improve your credit score. .
Credit expert John Ulzheimer says that
signing up for a new card or two can
help reduce your overall credit utilization. .
4. Have someone with good credit
add you as an authorized user. , This can add good data to your credit history, such as
on-time payments and low credit utilization.
5. Sign up for a store credit card, Retail credit cards are easier to be approved
for but carry high interest rates,
so be sure to pay in full every month. .
5. Sign up for a store credit card, Retail credit cards are easier to be approved
for but carry high interest rates,
so be sure to pay in full every month. .
Building your credit can be
a long and frustrating process, , but these steps can help you , speed things along. .
Building your credit can be
a long and frustrating process, , but these steps can help you , speed things along.