improving credit score credit cards

5 Ways to Raise Your Credit Score Fast

Whether you are in the market for your first home, planning to replace your old car with a new model or just trying to improve your financial life, it pays to keep your credit score as high as possible. That three-digit credit score impacts your life in countless ways, including some you may not have thought of. From determining how potential lenders view you and your creditworthiness to whether you qualify for a mortgage to whether or not you get the job, your credit score plays a vital role in your life.

If you do not already know your credit score, now is the time to find out what the lenders in your life already know. Checking your credit score is the easy part, but giving your score a boost can be much more of a challenge.

Even so, it is possible to raise your credit score quickly, and the six tips listed below can help you get started.
 Avoid making large credit  card purchases that could impact your credit utilization ratio. Lenders look at how much of your available credit you have used, so keep your current balances as low as possible.
 Pay off your credit card balances as quickly as possible. Paying down, or paying off, your credit card outstanding balances will reduce your credit utilization ratio even more, so do what you can to retire those balances once and for all.
 Leave your old accounts credit cards  in place. It may be tempting to close old accounts you no longer use, but doing so could actually lower your credit score. The age of your credit card accounts is a factor in determining your score, so leave them in place.
 Put your credit card payments on automatic. Using the bill pay feature on your credit card bank account will make paying your credit card bills easier and help you avoid latecredit  card  payments and hits to your credit score. Just make sure you keep enough money in the account to cover the balance due.
 Maintain your current payment patterns. Sudden changes to the way you handle credit and pay bills could cause lenders to question your creditworthiness. Avoid sudden changes, like paying less on your balances or missing payments.
 Hold off taking on additional debt or opening new credit card accounts. Hard inquiries on your credit file could lower your score, and that is the last thing you want.

Your credit score is one of the most important parts of your financial life, and taking steps to raise it can improve your finances in many different ways. If your credit score is lower than you would like, the tips listed above can help you raise it, so you can get back on track faster than you would have thought possible.

improving credit score credit cards
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