5 Steps To Building A Solid Credit Score
The last thing you want to do in 2017 is to bang up your credit score.
Having a great credit score will qualify you for the best loan rates, possibly lower your insurance premiums and even help you to get a new higher paying job.
Here are 5 things you can do today to start improving your credit score:
#1: Download your free credit report at www.AnnualCreditReport.com
I suggest you get one credit report from each of the three credit bureaus once every three months. This will allow you to monitor your credit report regularly, while never having to pay for a report.
#2: Report errors immediately.
When you receive your credit reports, check for any errors you find, like a wrong address, a credit card that does not belong to you, or bad debt that should’ve been removed. Then report any errors to that reporting service right away.
#3: Visit www.CreditKarma.com
This is where you can get your credit score, absolutely free. Just remember, AnnualCreditReport.com does not give you a credit score. They give you a credit report. By visiting CreditKarma.com you’ll get your most up to date credit score. Visit this site every few months to monitor how your credit score is doing.
#4: Don’t be late.
To maintain a good credit report and credit score, be sure to never be late or miss a payment. Even making one payment late or missing just one payment can affect your report and credit score negatively. Never paying late or missing a payment has the biggest impact on lowering your score.
#5: Improve your score. Pay off debt as quickly.
The best way I know of to improve your credit score is by paying off debt. When you pay off debt quickly, you get an even greater benefit. A good target credit score to shoot for is 750 or higher. While it may take some time and effort to raise your credit score, the effort is well worth it for the sake of your financial health.