3 Tips for Raising Your Credit Score

A key focus of my blog is Financial Literacy/Money. While your credit score isn’t necessarily the be all and end all for your personal financial health depending upon your own unique circumstances, it’s definitely better to have a good score versus a bad score. If you have a lower credit score and want to raise it, it’s absolutely doable. The following sponsored post is entitled, 3 Tips for Raising Your Credit Score.

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Your credit score is important as this number is often what qualifies you for the loans you need to make big purchases. Unfortunately, many people have subpar credit score due to having too much debt. It is never too late to work on improving your credit score so if you use these three tips, you can boost your score so you can qualify for large loans in the future.

Pay Off Debt

Paying off debt is the simplest way to improve your credit score but it can be difficult to do when you live paycheck to paycheck. Start by tracking your monthly expenses and creating a budget. Then make sure you have paid all of your bills and place any extra money you have on your lowest credit card bill. Paying more than the minimum payment will help you pay off the card more quickly.

Keep Lines of Credit Upon

One of the biggest factors for your credit score is the ratio of debt to available credit. The higher this ratio is, the lower your credit score will be. For this reason, it is a good idea to keep lines of credit open even after you have paid them off. Your credit score will increase as debt goes down and you have more available credit for each of your cards.

Monitor Your Accounts for Fraudulent Charges

While most credit card companies catch large fraudulent charges to your account, they may not notice small charges that add up over time. If you aren’t monitoring your accounts, you may find yourself paying for these charges without realizing it. Make it a habit to check each of your accounts regularly so you can initiate a charge review if you have any fraudulent charges.

Improving your credit is a lengthy process but it can be done. Use these three tips to get started.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.