Maintaining a good credit score requires you to avoid getting into debt and pay the bills on time. Hence, keeping your credit score pristine isn’t an easy job. Once you achieve the unachievable, how do you maintain a good credit score?

Everyone knows that they should avoid overspending with credit cards and pay the bills on time. However, there are a few more things that no one will tell you about. Some of them include keeping your old accounts open, applying for fewer credit cards, and solving any issues that appear with your lenders. In addition, we share the top tips on how to maintain a good credit score!

Pay your bills

Paying your bills on time is essential since the payments make up 35% of the credit history. This includes charges like rent and utilities, but also credit card payments. If you miss the deadlines due to poor management, make sure to get designated apps that will remind you of the dues. Or sign up for auto payments. This will transfer the funds into covering the debt, so you won’t forget about it.

Keep the old credit cards open

Many mentioned that keeping the old credit cards will help you maintain a good credit score to improve your current. But how is this possible? The card that you issued years ago will give you a more extended credit history. Since the credit history length takes 10% of the score calculation, make sure not to close your inactive cards.

Check your credit report

Mistakes in credit reports aren’t rare, so make sure to keep an eye on yours. If you notice that specific info is wrong or missing, make sure to react immediately to fix the errors.

Consolidate card debt

Having a few smaller debts will harm your credit score, so be sure to join them into one debt. Consolidating the card debt into one will help you keep your credit score spotless.

Don’t use the whole credit limit

The CURE or credit utilization rate shows how much you have used from your available credit limit, expressed in percent. For example, your credit limit might be $1000. The ideal CUR is a maximum of 30%, so make sure to spend up to $300. Different credit cards come with different credit limits, which is an essential factor that dictates the CUR.

Avoid hard inquiries

Whenever you apply for a credit card or other loan, the lender will perform a credit check. Some of these checks are considered hard iniquities, meaning that they can lower your credit score. If you wish to keep a high credit score, don’t apply for loans.

Contact your lender

If you encounter any problems, try contacting your lender. In some cases, they might be able to offer you better conditions. If you are lucky, you might negotiate a better interest rate.

Knockdown debt

If you wish to maintain a good credit score, you need to knock down existing debt. When paying off debt, make sure to start with the high-interest rate debts. Good examples for this are credit card debts, so make sure to start from them. Keep them a priority and pay more towards the balance while paying off the minimum for other low-interest debt.

Final thoughts

Maintaining a good credit score might be tricky, but it isn’t impossible. To keep your credit history pristine, you need to count on the different factors influencing the score. Make sure not to miss any due payments, avoid credit applications, check your report for mistakes, and direct more money into paying off high-interest debt.

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