Credit scores have a profound impact on your life, affecting everything from the interest rates on your credit cards to your ability to get a job in some industries. Bringing your rating up can seem like an impossible task, especially if you have a low score or no credit at all—but it doesn’t have to be. Following the tips below will help bring up your score, no matter what your credit history looks like.

How to Improve Your Credit Score

1. Review Your Credit Report

Everyone is entitled to a free copy of their credit report once per year, so order yours and check it thoroughly for errors. If you notice an issue, like a debt you paid off marked as delinquent or accounts that don’t even belong to you, dispute the notation immediately with all three reporting bureaus. In some cases, just removing erroneous information can result in a significant increase in your credit score.

2. Pay Down Credit Card Debt

Lenders like borrowers with low credit utilization, so concentrate on paying down your credit cards. Ideally, you’ll want to use less than 30% of the balance of each available card, so you shouldn’t carry more than $400 if your credit limit is $1,200.

3. Pay Bills on Time

The credit reporting bureaus put a heavy emphasis on paying bills on time, so concentrate on getting your payments in before the due date. If you have trouble keeping a calendar, consider setting up automatic payments to ensure you don’t forget.
 

As a member-owned financial institution, Spirit of America Federal Credit Union is dedicated to helping Lancaster County, NE, achieve financial success. They offer everything from credit cards to home equity loans, all with an unbeatable level of customer service. Visit their website for more on their accounts and lending products, follow their Twitter for news and updates, or call (402) 467-1102 to find out why this local credit union is right for you.