Credit score improvement takes time, patience

Are you one of many Americans who looks at their current credit score and says “I can do a lot better than that?” Whether your score ranges in the 600s or 700s, there is always room for improvement when it comes to finessing your credit. Here are a few things to keep in mind as you finesse your credit score:

Reducing credit card utilization

Credit card companies want to see you using the credit lines on your cards, they just don’t like to see you use all of it. The higher credit amounts you utilize, the more likely you’ll have difficulty paying the balance is the belief. That hurts your standing as a borrower, as opposed to someone who spends a near minimum on their card and pays the balance off in full monthly.

Utilizing a credit card for the right needs

Do you like to use your credit card, or do you want to use your credit card. If you card offers generous rewards, it’s probably worth spending but keep in mind any of an unpaid balance at the end of the month is slapped with the interest rate you agreed to when you signed up for the card.

Pay bills on time

Your creditors may not hesitate to contact a collections company if you’re behind on your bills. It is one thing to not be prepared for a rainy day but it’s another if you can’t plug the leak from the storm. Focus on paying your bills first and enjoying life second to get your credit score to where you want it to be.

Ready to take a look at your credit score? We can help Travis Credit Union’s BALANCE Financial Fitness Program has professional counselors available to help review your credit report and teach you ways to improve your credit score.

BALANCE Financial Fitness Program