Credit means everything in today’s world. It affects a person’s ability to buy a car, a home,and even insurance rates. With so much emphasis placed on good credit, it is imperative that a person knows how to raise your credit score. With a good credit score, which is typically defined as a score above at least 650, moderate interest rates on credit cards and loans are offered. This can save a great deal of money in the long run. These 5 tips will help increase a score and afford a person the luxury of more credit with better rates.
1-Pay every bill on time even if the payment sent is just the minimum amount due. One late payment can dramatically reduce a credit score. It doesn’t matter if it is only a day late. Late is late and it will negatively impact the overall score. If a payment absolutely must be late, contact the creditor and ask for an extension. Most companies will offer to do this once a year.