Your credit score is a quick picture of your financial decision-making, past and future commitments.
The higher the score, the more access you will have to credit. Most scores are between 300 to 850 and to improve your score you must first know it. Get your report from the three reporting agencies, Experian, Equifax and TransUnion. You can also obtain a copy of your credit report from www.annualcreditreport.com but you will have to pay to find out your personal score.
Make a positive impact on your score though 7 tips from the San Diego Metropolitan Credit Union:
- Pay down your balances and keep them under 30% of the card’s limit.
- Use your cards carefully and remember that large balances will reduce your score.
- Check your limits to be sure they’re being correctly reported.
- Use an older card every few months to keep the lender reporting and it shows a long-standing history with that card provider.
- Late payment? Ask the lender if they would forgive a late payment based on your good payment history
- Dispute old negatives on your credit report.
- Make sure your report is accurate.