Improving your credit score
- If you want to improve your credit score, there are three ways you can try. You can first start off by, checking your credit report. Next, you should set up payment reminders. Lastly, try to reduce the amount of debt you owe
Step 1: Checking credit report
- Your credit report contains the data used to calculate your score and it may contain errors. So you should always check for mistakes and errors on your report.
Step 2: Saving money
- If you know you owe money somewhere, go ahead and pay it. Setting up payment reminders is one of the most important things to do, because it prevents you from being late on your bills. Many banks either send you an email or a text message as a reminder.
- You could also consider enrolling in automatic payments through your credit card and loan providers to have payments automatically debited from your bank account, but this only makes the minimum payment on your credit cards and does not help instill a sense of money management.
Step 3: Reducing your debt
- When trying to reduce your debt, It's best to stop using your credit cards at the moment.
- Reducing the amount that you owe is going to be a far more satisfying achievement than improving your credit score.
- Also, Use your credit report to make a list of all of your accounts and then go online or check recent statements to determine how much you owe on each account and what interest rate they are charging you.
- There are other ways you can keep your credit score down.
- You can do so by paying your bills on time
- if you've missed payments, go current and stay current.
- Be aware that paying off a collection account will not remove it from your credit report. In conclusion, save money live better.