Easy Ways to Build a Strong Credit Score

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a Easy Ways to Build a Strong Credit Score by mattdixon | May 26, 2022 | budgeting, 몭nance, matt dixon

If you want your credit score to be in the “good” range instead of the poor range, you must know how to build a strong credit score. A high credit score can provide signi몭cant bene몭ts, such as getting approved for loans and other 몭nancial assistance much more accessible than someone with a low credit score. Here are some tips for building a solid credit score: 1. Pay Your Bills on Time Paying your bills on time provides the best way to build a strong credit score. Paying your bills late will not immediately hurt your credit score, but paying the delinquent accounts will be listed as a negative item on your credit report, which will lower your overall credit score. Also, if you consistently pay bills late, you may get harassed by creditors trying to collect unpaid bills. 2. Choose Your Credit Card Wisely Your credit score will go up if you have several credit cards, but your credit score will go down if you do not pay the accounts you have on those credit cards. Having only one or two credit cards is the best way to build a strong and healthy credit score. 3. Do not Apply for Too Many Credit Cards at the Same Time Applying for many di몭erent types of loans and 몭nancial assistance within a short period may lower your overall credit score. Applying for many loans at one time will make your credit look overextended, and you might 몭nd it harder to obtain more


credit cards in the future. 4. Do not Close a Credit Card Account Closing your credit card accounts that have been recently approved can lower your credit score. As negative items on your credit report, lenders will also consider closing accounts closed for more than 60 days, reducing the overall score. 5. Become an Authorized User Authorized users do not have a great credit score, but having an authorized user on your account may help you build a healthier credit score. However, unless you regularly pay the accounts on your account, the lender will eventually close the accounts. Conclusion There are many di몭erent ways to build a strong credit score. It is essential to research how to build a strong credit score by reading articles, watching videos, and talking with people who have good credit scores.

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