We all know that the better our credit score is the lower the interest rates we can get on borrowed money. If we have a lower interest rate we pay less money. Here are some tips on how to quickly increase your credit score.
One is to reduce the debt you owe on credit cards or on unsecured debt. The lower your balance to limit ratio the better your score can be. If your balance is close to your limit it can lower your score.
Make your payments on time. If you are 30 days late that will result in a hit on your credit score. One tool you can use to help you pay your bills on time is a bill pay service. This service can help you to make timely payments on all of your bills. By using this service, you can also avoid going over your limit or increasing your balance due to fees being added on to your account. You can also save money by not having to pay these fees.
Another way is to monitor your credit score. There are many services online that can help you with a monthly monitoring service. You can also pull your own credit report periodically to see what is showing up on your credit.
When you pull your credit you can also determine if there are any discrepancies on your credit report. If there are any errors, you can contest them.
All of these can help you to quickly improve your credit score. It just takes a little bit of diligence and self discipline and you will be on your way to a higher credit score and better borrowing power.