3 Ways to Improve Your Credit Score and Maintain the Same

When you have a good credit score, it is you to benefit from the same. It will let you pay lower rates of interest on your loans and credit cards. You will also save your hard-earned dollars on insurance as well as security deposits when it comes to smartphone service and utilities, provided you have a healthy score. 

According to an article published in Huffington Post, when you make rent payment for your apartment, make sure you inform about the payment to the credit bureaus. It is one way of improving your credit score. Usually, the manager reports the payment once the rent agreement is made on request. 

In this article, we will walk you through the three ways to improve your credit score. Read on to learn more. 

1. Pay all your bills within the due date

When it comes to bill payments, you should clear all the bills and not just your credit card ones or loans. There are some bills, which aren’t reported to the bureaus even when you make timely payments. However, the same could come under your credit report if you fail to make the payment on time. 

Did you know that even a small amount such as a library fine could end up in the report if you do not pay the same? Yes, it’s sent to the collections agency. Therefore, keep paying all your bills, big or small timely to ensure a healthy credit score. In case, you have any doubts, get in touch with yourscoreandmore or similar platforms. 

2. Learn what makes a great credit score

When you learn more about what makes a good credit score, it will help you maintain a great score. There are five essential aspects to help in the computation of your score. These include your debt level, payment history, credit mix, recent credit, and credit age. 

There are a couple of things, which do not have a bearing on your score. For instance, utility payments and checking account overdrafts will not do any good or damage your credit score. 

3. Avoid closing old credit cards

When you close an old credit card, it means that the card-issuing company will not send any more updates to Equifax, Experian, or TransUnion – the credit bureaus. Did you know that the credit scoring method does not place much importance on inactive accounts? 

After 10 years, the bureau will delete a closed account’s record from the credit report. When you lose that record, it will reduce the average age of the credit you had all this time, leading to a drip in your credit score. 

When you close old credit cards, it would also reduce your current credit limit. For instance, if you have two cards with a combined spending limit of $7,000 and you decide to close one credit card account with a $2,000 limit; your credit limit comes to $5,000. Therefore, do not close old credit card accounts.

4. Cutoff Your Requests for New Credit—and ‘Hard’ Inquiries 

There can be two sorts of investigations into your record, regularly alluded to as “hard” and “delicate” requests. A common delicate request may incorporate you checking your own credit, allowing a possible boss to check your credit, checks performed by monetary foundations with which you as of now work together, and Mastercard organizations that check your document to decide whether they need to send you preapproved credit offers. Delicate requests won’t influence your financial assessment.

5. Breaking point the quantity of hard requests 

There are two sorts of requests that can be played out a hard and a delicate request. A delicate request is the point at which you check your own credit. At the point when potential manager glances through your credit, or if any looks at are conveyed by monetary foundations (which you as of now work with), these are called delicate requests. Delicate requests don’t influence your financial assessment. A hard request is the thing that happens when you apply for a charge card, or an advance. Hard requests that happen sometimes won’t influence your FICO assessment. Notwithstanding, a significant number of these inside a brief time frame range will influence your FICO rating. Banks will interpret this as meaning that you require cash since you have a dealing with monetary issue.

6. Cutoff How Often You Apply for New Accounts 

While you may have to open records to fabricate your credit document, you for the most part need to restrict how regularly you submit credit applications. Every application can prompt a hard request, which may hurt your scores a bit, however requests can add up and have an intensifying impact on your financial assessments. Opening another record will likewise diminish your normal period of records, and that could likewise hurt your scores. 

7. Pay Down Revolving Account Balances 

Regardless of whether you’re not behind on your bills, having a high equilibrium on spinning credit records can prompt a high credit use rate and hurt your scores. Rotating accounts incorporate Mastercards and credit extensions, and keeping a low equilibrium on them comparative with their credit cutoff points can assist you with improving your scores. Those with the most noteworthy FICO ratings will in general keep their credit use proportion in the low single digits.

8. Use Credit Monitoring to Track Your Progress 

Credit observing administrations are a simple method to perceive how your FICO assessment changes over the long haul. These administrations, a considerable lot of which are free, screen for changes in your acknowledge report, for example, a took care of record or another record that you’ve opened. They normally additionally give you admittance to at any rate one of your financial assessments from Equifax, Experian, or TransUnion, which are refreshed month to month.

9. Unite your obligations 

On the off chance that you have such a large number of obligations that are, you could really utilize this for your potential benefit. You can take out an obligation solidification advance from your bank or a credit association. You can them just compensation them off. You will just need to make one installment. Remember that on the off chance that you can a lower financing cost on your advance, you can square away the obligation quicker. Another approach to combine many charge card adjusts is balance move. A few cards regularly have a limited time period during which they charge 0% premium on the equilibrium on your card. In any case, the equilibrium move charge can cost you between 3% to 5% of your sum.


Keep these tips in mind so that you can boost your credit score. Make timely payments on bills, loans, and cards. Do not miss the payment date at any cost.

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