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Quick Tips On Credit Reports

Todays Date: December 16, 2018

Good credit is important in all of our lives and will only increase in importance as we get older.

When you apply for a job, credit card, loan or even an apartment, your credit comes into play. If you have good credit, you will be successful in getting what you want.

Let’s go over a few tips to improve your credit score so that you can have the best chances of succeeding and improving your life in areas that require a good credit score.

First, reduce your debt-to-credit ratio as much as you possibly can. This also means that you should stay away from your maximum credit limit. Although you may be doing this completely responsibly, many companies will look at this and interpret it as you trying to borrow as much money as you possibly can which will not look good. Try to keep your balances under 50% of your credit limit.

Next, take a look at your report and check for errors. This can happen quite often when a utility company or lender might report one of your payments late. These kinds of errors can have an effect on your credit later on.

Also, you will want to make sure you are making all of your current payments and payments in the recent past on time. Payments in the recent past have a much larger effect on your credit than do late payments that you may have made many years ago.

Additionally, this is just good finance sense but you should pay off your debt. Do not simply move it around your accounts or transfer it. In the long run, this will hurt your credit.

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