Looking to boost or maintain your credit score? Here’s some tips to help you accomplish your credit score goals.
1. Make your payments on time – 35% of your credit score calculation comes from your payment history. All payments missed or made will show up on your credit report, one missed payment can affect your credit score significantly.
2. Keep credit cards and line of credits under 50% of their maximum limit. – Used credit vs availablecredit accounts for 30% of your credit score calculation. The lower you keep your credit cards andline of credits the better.
3. Minimum limit of $2500 for credit cards – This can help you boost your credit score. It is hard tokeep balances under $500 when your credit limit is $1000. This will allow you to keep credit cardbalances low and show that you have available/unused credit.
4. Don't open new credit card accounts if they aren't needed – Inquiries for new credit accounts for10% of your credit score calculation. How often you are applying for new credit can affect your credit score.
Everyone’s financial history is different, I am here to work with you or answer any questions you may have.
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