Simple ways to quickly boost credit scores
The road to great credit begins with you the consumer. The ability to pay bills on time and stay out of debt can ultimately save you thousands of dollars when you purchase a home.
Strong credit scores can take years to build, but if you want to improve your scores rather quickly, begin by following the steps below. Scores will not sky-rocked overnight, but they will improve.
1. Pay bills on time. This is the most effective and simplest ways for you to improve your credit score.
2. Pay down balances and keep them low. After payment history, the amount owed is the second biggest influence on most consumers’ credit. Try to pay more than the minimum amount due each month, ideally paying the balances in full if possible.
3. Study your credit report. Scores can sometimes fall victim to errors on a person’s credit report.
4. Wait to apply for new lines of credit or mortgages as you are going through this process. Credit scores take a hit each time you apply for new lines of credit.
While it takes time to build a strong credit history, these small steps are a start in the right direction.