How to Increase your Credit Rating

Here are ways to increase your credit rating from my experience. First, be responsible with your credit card. Second,  pay your bills on time and not till the last minute. Third,  evaluate your credit report. The reason why I’ve chose this topic is because I’ve had credit card since I was 18 years old and my parents wanted to me to start building my credits for the future. Currently, I’ve had credit card for 7 years with an excellent credit history. So, I wanted to write this article to help a lot of people out therestruggling and to reduce the amount of frustration that people have with their credit card(s).

First, be responsible with your credit card is the most important, by checking your credit balance at least twice a day making sure the balance and the transaction is correct amount. Sometimes the credit balance will vary due to purchase after purchase. What I mean by that is for example, the credit card bill said the balance due is $400.00 and I paid off half of that which is $200.00 then, I would have $200.00 left on my balance. After that, I have decided to make a $300.00 purchase on auto parts by using my credit card. Now, the balance will be $500.00. That is why checking your balance is really important because the balance will fluctuate from time to time.

Second, paying your bills on time. Why do you have  to pay your bills on time and not till the last minute?…If the credit card user don’t pay their bills on time, the service fee will be added to your actual balance and not only that, the interest (%) will increase as well till you pay your balance. My friends asked me why do they have to pay their bills on time and not on the due date and I’ve said because the due date is a reminder and if you actually pay it on the due date it would consider late, especially these days credit card users pay their bills buy personal checks and mailing them takes couple of business days  normally the checks takes about 7-14 business days to make an transaction.

Third, evaluate your credit report; knowing your credit score. Knowing your credit score is important because it gives you a guide of where you have to be. Average credit score is 720, anything above that is consider excellent and 600 or less is poor. Also when purchasing a vehicle or a house, the sales person would check your credit report to see where you at and get an idea so if your credit score is below average, they will work with you. Overall, they want to see how confident you are paying things off on time. I’ve been told check your credit report every 3 weeks to see where you at and go to, Transunion, and experian to see your scores,

Here are three good ways to increase your credit rating. First, be responsible with your credit card. Second, paying your bills on time. Third, evaluate your credit report. Use your credit card as an emergency use; use it for small purchasesand know how much you spend on it to afford paying your bills on time. If you can’t afford to pay the bill in full balance, pay half of it or whatever you can pay off, but it must be paid off more than a minimum balance in order for you to pay off your balance faster. Do not use your credit card unless you really have to and not to take advance of it because it’s going to hurt you. This article will help out a lot of people and if you have any question(s) even your bills, call your credit card customer service located on back of your card and they’re available 24/7. They have answers to all your questions.