Ten Free Ways to Improve Your Credit Score

free ways to improve credit score

Your credit score can affect a lot. It’s important to make it as strong as possible. In the end, improving your credit score shouldn’t cost money. Take a look at these ten ways to boost your credit score without incurring any costs.

Pay Bills on Time to Increase Credit Score

Make sure you are always paying your bills by their due dates. This is one of the most important factors in determining your credit score.

Reduce Credit Card Balances

Aim to keep your credit card balances low relative to your credit limits. High credit use can impact your score negatively. Paying down your balances can help improve it.

Avoid Closing Credit Card Accounts

Closing a credit card account can decrease your available credit. This can increase your credit use. Instead, keep your credit card accounts open, even if you’re not using them.

Review Your Credit Reports

Check your credit reports for errors. These could be hurting your score. You can request a free copy of your credit report. You can get this from each of the three major credit bureaus (Equifax, Experian, and TransUnion). This is free once every 12 months at AnnualCreditReport.com.

Dispute Errors on Your Credit Reports

If you spot any errors or inaccuracies on your credit reports, file a dispute. It’s important to have them corrected. Doing so can help remove negative information that is impacting your score.

Become an Authorized User

If you have a family member or friend with a well-managed credit card account, ask if they can add you as an authorized user. Their positive credit history can boost your own credit score.

Use a Variety of Credit Types

It’s good to have different types of credit accounts. This can be things such as credit cards, loans, and mortgages. It can positively impact your credit score. Yet, only take on new credit if it makes financial sense for you.

Avoid New Credit Applications

Applying for many credit accounts within a short period can raise concerns for lenders. In the end, it can lower your score. Only apply for new credit when necessary.

Keep Older Accounts Open

The age of your credit accounts is a factor in your credit score. If you have older accounts in good standing, keeping them open can show a longer credit history. Doing so can positively impact your score.

Track your Credit Score

Stay vigilant and track your credit score. Many online tools offer free credit monitoring that alerts you to changes in your credit report. They can also help you detect any fraudulent activity.

Remember, improving your credit score takes time and consistent effort. By following these tips, you can boost your creditworthiness without extra costs.

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