5 Ways to Increase Your Credit Score

Pay your bills on time: Late payments are one of the biggest factors that can negatively impact your credit score. Make sure to pay all your bills on time, including credit card bills, loan payments, and utility bills.

Keep your credit utilization low: Your credit utilization is the amount of credit you're using compared to your credit limit. Aim to keep your credit utilization under 30% to avoid negatively impacting your credit score.

Check your credit report for errors: Errors on your credit report can drag down your credit score. Check your credit report regularly to ensure all the information is accurate and dispute any errors you find.

Don't close old credit accounts: The length of your credit history is another factor that affects your credit score. Keeping old credit accounts open, even if you don't use them, can help improve your credit score.

Apply for credit sparingly: Applying for credit frequently can lower your credit score. Only apply for credit when needed and try to space out your applications to avoid multiple inquiries on your credit report.

Diversify your credit mix: Having a mix of different types of credit accounts, such as credit cards, loans, and mortgages, can positively impact your credit score. Lenders like to see that you can manage different types of credit responsibly.

  Ask a Friend: If someone with good credit adds you as an authorized user to their credit account, their positive credit history can also reflect on your credit report and help increase your credit score. Just make sure that the account holder is responsible and makes payments on time.

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