If your credit could look a little better, ask if you have one of these habits that hurt your credit.
- First, waiting too long to establish credit. Lenders need to see a track record. So start early, maybe with a credit card you use just a little and pay off regularly.
- Second, late payments. If you’re a few days late, it shouldn’t affect your credit score, but 30 days late will cause your score to nosedive.
- Third, using too much of your available credit. Don’t get in too deep. Try to use less than 30% of your credit limit on a credit card.
- Finally, don’t close longstanding accounts. If you have an unused credit card for example, with a good payment history connected to it, let it ride. Your credit score will thank you.
Do us a favor please. Tell your friends about us so they can be smarter about their money too.