📈 Five Ways to Improve Your Credit Score!
1️⃣ Get copies of your credit report —then make sure the information is correct. Go to www.annualcreditreport.com. This is the only authorized online source for a free credit report. Under federal law, you can get a free report from each of the three national credit reporting companies every 12 months.
2️⃣ Pay your bills on time. One of the most important things you can do to improve your credit score is pay your bills by the due date. You can set up automatic payments from your bank account to help you pay on time, but be sure you have enough money in your account to avoid overdraft fees.
3️⃣ Understand how your credit score is determined. Your credit score is usually based on the answers to these questions:
✴️ Do you pay your bills on time?
✴️ What is your outstanding debt?
✴️ How long is your credit history?
✴️ Have you applied for new credit recently?
✴️ How many and what types of credit accounts do you have?
4️⃣ Learn the legal steps you must take to improve your credit report. The Federal Trade Commission’s “Building a Better Credit Report” (www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm) has information on correcting errors in your report, tips on dealing with debt and avoiding scams—and more.
5️⃣ Beware of credit-repair scams. Sometimes doing it yourself is the best way to repair your credit. The Federal Trade Commission’s “Credit Repair: How to Help Yourself” (www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm) explains how you can improve your creditworthiness and lists legitimate resources for low-cost or no-cost help.
