Improving your credit score is a goal that you should certainly consider before the ball drops.
Losing weight, quitting smoking, and getting organized are among many Americans’ most popular New Year’s resolutions.
Strong credit can be invaluable whether you’re a Gen Z, millennial, or baby boomer. For instance, it can help you bag a home mortgage, auto loan, and financing to pay for college. Simultaneously, bad or poor credit can make you a risky borrower, reducing your chances of getting approved and obtaining a good or lower interest rate.
To help improve your score, there are several actions to consider taking. One of the first is getting copies of your credit report to ensure the information is correct. Visit AnnualCreditReport.com to get a free report from each of the three national credit reporting firms every 12 months.
Further, analyze your credit report for mistakes and check it regularly. The reason: There could be details that should not be there and reduce your scores. Be assertive and ensure an account in decent shape is included in your report.
And very importantly, pay bills by the due date. That action is among the most significant factors affecting your credit score. Paying bills timely can even help boost your score. Consider a system where bills are paid automatically, erasing the risk of missing a payment and incurring late fees.
A new report here and this information offers more tips to help enhance your credit score.
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Source: Black Enterprise