Whether you plan on buying a home or want a better rate on your auto lease, your credit score is the secret to success. But what if it isn’t high enough for the financial standing you crave? According to Evergreen Advisors—a full-service financial consultant firm in Covington, KY—there are many ways you can build your credit score.
As a trusted source of financial advice in Northern Kentucky, Evergreen Advisors has compiled these tips to help you improve your financial picture:
- Adopt Credit Card Best Practices: If you don’t have a credit score, it’s likely because you haven’t taken out any loans or accrued any debt from a lender. Opening a credit card account can help you establish credit—and if you keep a low balance that is continually paid off, you’ll keep boosting your score. A good rule of thumb is to not spend any more than 30% of your total credit limit.
- Dispute Debts: Taking a hard look at your detailed credit history can be nerve-wracking, but it does offer benefits. By examining your financial history, you can determine if there are any outstanding debts you were not aware of. If these credit dings shouldn’t be there, you can work with a credit agency to dispute the claim, and, eventually, repair your credit score.
- Follow A Schedule: When payments to your credit cards or mortgage are outstanding, your credit score can suffer. To stay on track, set up payment reminders or automatic payments and keep your numbers high.
Working with a financial planner can also help you determine unique strategies that will increase your credit rating. Whether you want to work on strategies to improve your overall spending or establish a reliable investment plan, Evergreen Advisors has the expertise and specialized services to get you where you want to be. To schedule an appointment with a financial consultant in Covington, call (513) 784-9150.