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Bellco Credit Union.
Bank Smarter. Live Smarter.
Build A Stronger Credit Score
A good credit score is important to getting great interest rates and appropriate credit.
But for many people it is a mystery how to build it up. Here are some simple steps to grow your credit score.
The easiest way to grow your score is to Pay your bills on-time, every time.
Pay collection accounts. Remember to get your settlements with creditors in writing.
Keep your older accounts. Accounts two years and older indicate stability.
But limit it to four to six credit cards. Too much available credit can be a risk.
A variety of accounts helps: credit cards, mortgage and auto says you can handle a mix of responsibilities.
Be careful about accepting balance transfer offers.
While they can provide a great way to move from a higher-interest to a lower-interest credit card,
too many of these might have a negative impact on your score
Remember, you want to appear to be steady and stable with your use of credit instruments
so don't swing from one card to the next, because it doesn't look good.
And finally check your credit report and scores to make sure the credit report is accurate.
If necessary, correct any inaccuracies.
Follow these simple steps and you’ll have a big, strong credit score.
1. Pay Your Bills On Time; 2. Pay Any Collection Accounts; 3. Keep Older Accounts; 4. Don't Open Too Many Accounts; 5. Get A Good Mix Of Accounts; 6. Avoid Balance Transfers; 7. Correct Any Inaccuracies.
Big Strong Credit Score.
Bellco Credit Union. Banking Smarter.
Bank Smarter. Live Smarter.
Bellco.org