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Lately I've noticed my credit score has been dropping and I want to try my best to raise it again! Here are 5 steps on how to increase credit score!
Step 1: Monitor your payment history! Payment history is the most important part to your credit score. To do this, you must always make your payments on time! If you cant pay the full bill try to pay the minimum amount. If you think your going to have trouble paying the bill, contact the lender ASAP.
Step 2: Increase the length of your credit history. The longer you have a credit account open and active, the higher your credit score will get. You can keep an older credit account open and use it from time to time to keep it active.
Step 3: Use credit wisely! If your credit card has a limit of $4,000, don't spend more than that, doing so could lead in a decrease of credit score. try to use less than 35% of your available credit.
P.S! if you use majority of your available credit, lenders wont trust you as much to pay it back on time, (even if you do always pay your payments on time)
Step 4: its important to have different types of credit. different types of credit could be, a credit card or a line of credit. The more money you borrow and don't pay back, the more you end up in debt. Being in debt decreases your credit score.
Step 5: staying on top of payments, an easy way to stay on top of payments is to set up automatic payments so that you don't need to worry about falling behind or missing payments.

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