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Raising Your Credit Score



Quest for a Better Credit ScoreWhen you're young, you do a lot of crazy and (dare we say it) stupid things -- like never paying your bills on time. You may think you have time, and you can pay them back when you have more money in the bank. But really, it can have a lasting effect on your credit score which will affect you buying things for your future... like a car, an apartment or even a house. And let's be honest, it is not easy to build your credit back up. It’s easy to lower it, but bringing it back up to even just a reasonable number takes years to do.

Here are some ways to help save your credit and maybe even help you raise it, so it doesn't affect your future life-changing purchases.

Credit cards 
When purchasing items, it may seem like a great idea to pay in cash, because you are aware of how much you are spending instead of endlessly swiping a piece of plastic. The simple fact is that it doesn't have a negative or positive effect on your credit score. 30% of your credit score is based on the gap between what you owe all your credit card companies and your total available credit, which is also referred to as your "debt-to-credit-limit."  If you have a closed account that you no longer use, this increases the ratio, lowering your score.

If you are looking to open a new credit card account, try not to spend more than 33% of your allotted balance, so you don't end up putting yourself in a hole.

Pay your bills
It's that simple. Don’t spend money you don't have. Schedule automatic payments if you have a hard time remembering to pay your bills. Put it in your phone, write it on your calendar, or put sticky notes on your toothbrush; do whatever it takes to pay these bills by their due date.

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