Building Your Credit

Today's topic is building your credit. Whether you are just starting and do not have much credit history, or if you are trying to re-build your credit after some hardships, these tips should come in handy!

1. Pay your bills on time-

Late payments take a MAJOR hit on those scores. Make sure you are making your payments on time. If your payment date doesn't work for you, try asking your credit issuer if you can change the payment day, or do the below.

2. Make frequent payments-

Do you get paid weekly? Instead of paying one lumpsum at the beginning of the month along with ALL of your other bills, make micro payments. Pay $20 each week to help keep your balance down and your utilization too!

3. Ask for a higher credit limit-

When your credit limit goes up but your balance stays the same, it INSTANTLY lowers your credit utilization, which can improve your credit. Call your credit issuer and ask for a higher limit with out a "hard" credit inquiry. It doesn't hurt to at least ask!

4. Check your score often, and dispute credit report errors-

Small errors could be holding your score back with out you even knowing it! Make sure to check your full credit report at least YEARLY for free on www.annualcreditreport.com.

5. Use a secured credit card-

If you don't think you will be approved for a regular card, try a secured credit card. This type of card is backed by a cash deposit that you pay upfront. Make sure your card reports to all THREE bureau