How to Improve Your Credit Score

1. Check credit report

Order you free credit report from annualcreditreport.com each year and check for errors. If you find any, file a dispute with the credit reporting agency to have it fixed.

2. Pay your credit card bills on time

Price to the lenders that you can reliably pay your debt on time every month. Download a bill paying reminder app on your phone to help you pay bills on time.

3. Keep your monthly bills low

Ideally, you’ll want to pay your monthly balances entirely, but if that’s not possible, keep the total credit used under 30% of the available credit.

4. Clear up any collection accounts

Pay off collection debt as soon as possible. These accounts stay on you report for 7 years, so the sooner you pay it off, the quicker it will come off your report.

5. Don’t open a lot of new accounts at once

Each time you open an account, the creditor makes a “hard inquiry” on your credit. Teach inquiry lowers your credit score by a few points.

Need some help?

Your friends at Sun Federal can help set you on the path to financial success!  Give us a call and ask how we can help you get your credit score back on track.