You want to get within the best credit score possible to enjoy benefits like getting approved for loans and credit cards, paying lower interest rates on those, and paying less for insurance premiums.
Read on to discover 3 tips that will improve yours.
1.
First thing to do to improve your credit score is to keep inquiries for loans and credit cards, even store cards to a minimum.
Too many inquiries are damaging to your credit - every time you apply for credit and a credit check is done on you, the credit agencies make a note of this on your credit report and it reduces your score.
The occasional one doesn't reduce it that much - less than 5 points, but if you go on a credit spree and get a few they can add up.
Not only does it reduce your score by many points it waves a red flag when you apply for a lot of credit - that you could be a credit risk, so try to keep it to a minimum.
2.
The second thing you can do to improve your credit score is to be wary of who you allow as an authorized signature on your credit cards.
You may have the best of intentions helping your son or daughter out, even your husband or wife, by allowing them to be an authorized user of your credit card.
However if they go crazy with the credit you will be the one whose credit is affected, especially if you have difficulty paying off payments for purchases you were unaware of.
3.
Always check your credit report regularly.
You are entitled to a free credit report from each of the 3 major credit reporting agencies so take advantage of this and check your credit report over every year, Mistakes get made.
There are millions of pieces of credit information that get keyed in every day by credit agency staff, it is easy for an error to be made just with the wrong spelling of a name, so by checking your report regularly, you can dispute any errors straight away and keep your credit score in good order.