Tips for Having a Better Credit Score in 2015

Posted on April 9th, 2015 | by      

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Good morning all. I am covering a topic today that I know a lot of people are concerned about, and that is getting a better credit score. Many people make this resolution when the new year hits, but a lot of people don’t know what they can do to help them keep the resolution.

I found a great article on the Huffington Post website that I know a lot of my readers are going to enjoy. Take a look at one of the tips that you can use from this article to help you with getting a better credit score. Even though it seems very basic, it also is very important.

2. If You’re in Debt, Stop Using Your Cards

Do you currently carry a credit card balance? Then — even if you’re making on-time minimum payments — you should stop digging yourself further into debt.

A portion of your credit is determined by your “utilization ratio” — the ratio of the amount you owe, relative to your total borrowing capacity. The higher your balances (relative to your limit), the more damage to your credit score.

Take the credit cards out of your wallet, cut them up or even freeze them in a block of ice in your freezer — do whatever it takes to stop you from adding anything extra to your account balances. Any measures you’re taking to boost your credit score will only be undermined if you keep racking up higher balances.

This may mean you need to change your spending personality, simplify your lifestyle or cut back on some areas of your budget. Doing these things now will help you maintain that higher score once you achieve it.

If you have problems with a low credit score, use one of the tips in this article to get a better credit score.  Even though these tips seem very basic, you also will find that they will make sense.

Please share my tips with other people and let them know about my blog.  Also feel free to leave me comments and let me know what you think of my blogs. Thanks so much for reading my blog!

 

 

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