At Complex Property Solutions, we understand that living with a low credit score can seriously impede your life. Your credit score is crucial in securing favorable loan terms, renting an apartment, or even getting a job. Read through our tips to help you increase your credit score, then contact us to get help with second-chance leasing opportunities!
4 Tips to Increase Your Credit
Pay Your Bills on Time
To increase your score, make sure to pay your credit card bills on time, every time. Set up automatic payments or reminders to avoid missing due dates and incurring late fees. Consistent, on-time payments demonstrate to creditors that you are a reliable borrower.
Use Credit Regularly
Using credit regularly and responsibly can help build a positive credit history. Lenders want to see that you can manage credit wisely, so using your credit card for small purchases and paying off the balance in full each month can demonstrate your ability to do so.
Keep Your Credit Utilization Low
Credit utilization refers to the amount of credit you're using compared to your total available credit. Aim to keep your utilization below 30% to avoid negatively impacting your score. Paying down existing balances and using credit sparingly can help lower your utilization rate.
Understand Your Credit Score
The first step to improving your credit is understanding it. Obtain a copy of your credit report from all three major credit bureaus (Equifax, Experian, and TransUnion) to identify any errors or negative marks that may be affecting your score. By addressing inaccuracies promptly, you can boost your score and increase your chances of qualifying for bigger loans.
Remember, building credit is a long-term process, so be patient and consistent in your efforts. To ensure you have a comfortable and affordable home while you work to improve your credit score, contact our team at Complex Property Solutions for personalized assistance!