Ways To Build Up Your Credit Score

I don’t know you but I find credit scores bizarre things. I understand why they drop when you have a high amount of debt and aren’t paying it off but I also find it crazy that if you manage to pay it all off, it also drops for a little while. My credit score is currently not too great so I was thinking about ways to build it up.

Make sure your name is on the electoral roll

If you want to get credit in the future, your name needs to be on it.

Pay Off Your Debt

If you cut down your debt, then your credit score will increase- but as I mentioned before, don’t pay off all in one go as this will cause it to drop down too. Pay it off steadily and as debt goes down, your score goes up. Make extra money wherever you can to wipe out your debt as quickly and as steadily as you can.

Rebuilding your credit itself may be worth trying.

You could choose to use a credit rebuilding card or perhaps a loan for those with bad credit such as CashLady – but only take these out if you can keep to the repayments. These will often be higher interest than those available to people with better credit but they are great for helping you build up your score if you are making regular repayments and not missing any payments. You can pay way over the minimum repayment if you like – as long as you are paying it off regularly, it will help boost your score.

Artem Bali

Check for errors

If you have errors on your credit report, you will want to get them removed. Checking on a regular basis means you will spot them quicker.

Pay on time

My final point to building up your credit score is to make sure you are paying bills on time. I know it can be hard to juggle everything, especially when finances are super tight, but if you are determined to get your score up, then you need to make sure those bills are getting paid on time. Selling old stuff, getting a second job, taking on overtime – do what you can to keep up with everything and you should reap the rewards when it comes to your credit score.

These are a few ways you can build your credit score – do you have any suggestions?

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