By - Rajendra
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A credit score is a numerical representation of an individual’s creditworthiness
It can help them to qualify for lower interest rates on loans, credit cards, and mortgages
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Late payments can have a significant negative impact on your credit score
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make sure that all of your bills are paid on time
Ensure the accuracy of your credit report by thoroughly reviewing it for any errors or inaccuracies
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Dispute any errors you find with the credit bureau
Every time you apply for credit, it can have a negative impact on your credit score
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only apply for credit when it’s truly necessary
long credit history can be beneficial for your credit score
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try to keep them open, even if you’re not using them
High credit card balances can have a negative impact on your credit score
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Try to keep your balances below 30% of credit limit.
Consistently paying your bills on time is important factors in rebuilding credit.
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Late payments negative impact on credit score.
handle different types of credit, mix of credit cards & loans like mortgages or auto loans
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mix of credit can help to improve your credit score
Improving your credit score takes time
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Rebuilding credit takes time, so be patient.
Having credit with different types of institutions or companies can help diversify
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boost your credit score
amount of credit you’re using compared to your credit limit, can also have an impact
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utilization below 30% to help improve your credit score
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