Shake Up Your Credit Score For 2018
Before the end of the year officially catches up with us, it’s safe to say that we all have a lot of think about. From holiday plans and parties to getting ahead with everything you want to do over the next twelve months, there’s a lot that’s likely to be buzzing around in your brain. But some things are always going to be more persistent than others. And money is always going to be one of them. Because when you’re dealing with a few finances stresses, it can often be all you think about. So, maybe you want to sort your money situation for the next year ahead? A great way to do that is to focus on your credit score. Whether you want to buy a house soon, or you just want to improve your standing, here are five options that could work for you.
Take A Look At Your Score
First of all, you should definitely think about looking at your credit score first. If you don’t know what it is now, then you’re not going to know what to do to improve it. Even if you’re worried that it’s going to be bad, burying your head won’t help. You’re going to need to know exactly where you are now, so that you can proactively move forward and improve your score over the next few months or years.
Reduce Down Some Debt
Once you’ve taken a look and you know where you are, you should then look to reduce your debt if you have any. Even if it’s a few thousand, working to reduce the amount you owe will always help your score. Ideally, your balances on credit cards should be under 20% of the limit, so work for this or less if you do have card debt.
Make Payments On Time
One thing that will always help to improve your score, is to make your payments on time. Whenever you miss a payment, it will cause an issue with your score and be marked on your report too. So even if you only make minimum payments to your debts, this will often help to show you’re good with your credit.
Build Up Some Credit
From here, you’re then going to want to work on building up some credit. But you may as well work this to your benefit if you can. With a specialist credit card, such as the TJX rewards platinum MasterCard, you’ll get benefits too. So you can slowly build up your credit and get rewards at the same time.
Space Out Any Applications
Another handy tip is to always space out any credit applications that you do make. When you’re asking for credit too often, it can be bad for your score. It makes lenders weary of your financial situation. So, if you do need credit for anything, be sure you space out your applications for as long as possible, preferable a few months or more. Then, you’ll be showing that you’re in good financial stead and your score will continue to grow.