2018 brings a year full of exciting possibilities and new beginnings. Whether you want to learn a new language or purchase a home, no resolution is too lofty. If your goal is the latter but your poor credit score is holding you back, don’t be discouraged. For those of us who want to leave our bad reports back in 2017, here are three things to help in 2018:
It’s often easy to lose track of payments with such fast-paced lives, but payment history is an integral factor which determines your credit score. Whether you keep an alarm in your phone or install a credit-dedicated app, ensure that you are staying on top of your payments. Attempt to use less than 35% of your available credit. Not only will that help make payments more manageable, but it will look great on your credit report.
The length of your credit history also reflects on your report. Essentially, the longer you have a credit account active, the better. Newer accounts don’t look so good, even if you have transferred old accounts into them. If possible, keep an older account open that you don’t need. Use it every once in a while and pay it off regularly.
Often forgotten is the fact that your score is also affected by how many different types of credit products you are using. Of course, don’t overload yourself by taking on more than you can afford, but be open to having a reasonable mix of credit. Having a credit card, a car loan, and a line of credit will often reflect better on your report than just having a credit card.
So there you have it; three simple but effective methods that will help you improve your credit score! If you need a little extra boost, we offer services that can further benefit you, such as CRA debt relief and debt consolidation.
Source was absolutely great to work with - went above and beyond to help us get everything done when buying our new home. Highly recommended!! Chad and Jenelle Richards Jan 09 2013
Chad and Jenelle Richards
Added January 23rd 2013
|V.R.M.||Prime-.65 or 2.35%|