Good credit scores give you access to lower interest rates, more loan programs, low or no down payment loans and probably the most important is lower monthly payments.
Anyone can boost their credit scores to the level of “Excellent”. There are only a few fool-proof ways to make drastic improvements to your credit scores. Here are 5 ways to boost your credit scores
- Pay your bills on time, always
- Keep your credit card balances low as compared to your total available credit
- Apply for store charge cards only when absolutely necessary
- Pay doctor and utility bills when they’re due
- Keep “aged” credit cards open, and use them periodically
A credit card balance should not exceed 30 percent of that card’s available balance. For a higher credit score, raising your limit can be as effective as reducing your balances. If you’ve had a derogatory event on your credit report, avoid credit repair companies until you’ve done your due diligence. Often, time is the best healer of a “bad credit report”.