To say that one's credit score has value would be an understatement. However, it has to be in good standing, which is something that many people struggle with. For some reason or another, their credit scores have not exactly been the most stellar. This can be improved, though, provided those men and women are willing to put in the effort. With the help of Bob Jain, here are the essential do's and don'ts to know regarding credit score improvement.
DO be timely with payments. It cannot be stressed enough: being late on a single payment can be disastrous for your credit score. This is why you have to make them as soon as you can, ensuring that no late fees are accumulated. It also doesn't hurt that it will keep your credit score from falling. For those who might not be attentive, as far as the aforementioned payments are concerned, it's probably time to change up your strategy.
DON'T sign up for multiple credit cards. According to companies like Bob Jain CS, applying for a number of credit cards is not beneficial. As a matter of fact, this can land you into debt rather quickly if you're not careful. This makes sense, seeing as how you'll be responsible for covering a number of balances in this scenario. When you limit yourself to just a couple of cards - one for credit purposes and the other for debit, ideally - you do your credit score a huge service.
DO act responsibly with your credit card. To say that credit card ownership entails responsibility would be an understatement. In order to get your score up, Bobby Jain CS will stress the importance of modest use. In other words, you shouldn't make too many purchases during a single month, since it could be difficult for you to pay it all back later on. To keep your credit score from falling, responsible use of credit cards is essential.
DON'T assume that your score will get better overnight. This is dependent on the individual case, but you can't expect your credit score to improve in a short time. Instead of becoming impatient, continue to follow steps like the ones covered earlier. Continue to make your payments and be wary of any offers that seem too good to be true. If you're good about your finances, sooner or later, your score will start to look more positive.
DO be timely with payments. It cannot be stressed enough: being late on a single payment can be disastrous for your credit score. This is why you have to make them as soon as you can, ensuring that no late fees are accumulated. It also doesn't hurt that it will keep your credit score from falling. For those who might not be attentive, as far as the aforementioned payments are concerned, it's probably time to change up your strategy.
DON'T sign up for multiple credit cards. According to companies like Bob Jain CS, applying for a number of credit cards is not beneficial. As a matter of fact, this can land you into debt rather quickly if you're not careful. This makes sense, seeing as how you'll be responsible for covering a number of balances in this scenario. When you limit yourself to just a couple of cards - one for credit purposes and the other for debit, ideally - you do your credit score a huge service.
DO act responsibly with your credit card. To say that credit card ownership entails responsibility would be an understatement. In order to get your score up, Bobby Jain CS will stress the importance of modest use. In other words, you shouldn't make too many purchases during a single month, since it could be difficult for you to pay it all back later on. To keep your credit score from falling, responsible use of credit cards is essential.
DON'T assume that your score will get better overnight. This is dependent on the individual case, but you can't expect your credit score to improve in a short time. Instead of becoming impatient, continue to follow steps like the ones covered earlier. Continue to make your payments and be wary of any offers that seem too good to be true. If you're good about your finances, sooner or later, your score will start to look more positive.
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