Credit Checkup: Are You Doing Enough To Help Credit Score?

When it comes to your credit and subsequent score, the bare minimum isn’t going to do much to move the proverbial needle, in this case, increase your credit score and make you more appealing to potential lenders.

That appeal translated simply means your score puts you in a category of being risky or a solid investment from a lender. If your score is suspect, you might still get approved but have a higher than normal or average interest rate.

Your score is that first and only impression you’ll have when you try to finance a car, buy a home or for money for home improvements and equity loans.

But far too few people pay as much attention to their credit score as they should, and merely watch as bystanders as it drops a few points here and there, and then eventually becomes a number they’re no longer proud of and instead try to scratch their heads and figure out what or where it all went awry.

As much as you believe that you’re back is against the wall when it comes to credit and your score, you can change the trajectory of where it’s headed with a few simple steps to ensure your credit isn’t going to get away from you.

Ironically, the easiest way to monitor your credit is to check your score, which won’t drop it (another misnomer) and keep abreast of any changes to it. If you notice something that doesn’t look correct, this will give you an opportunity to question it and fix it.

Another really important reason to look at it is that most individuals don’t know that they’re struggling with the more delicate points of credit: such as opening up too many cards at once, having too much debt in relationship to your limit or having a debt to income ratio that somewhere along the way got way out of hand.

Finally, you can stop sabotaging your credit score by doing one thing: pay your bills on time, and not incur late fees but more importantly having those late payments posted and negatively affecting your credit score. Anything over 30 days is going to be reported to a debt collector potentially, and thus bring your score down quite a bit.

Being on top of your credit score means you’re not just aware of the numbers but know what it is comprised of and how you got to this point you’re at, whether it’s good or bad. Fixing it means you’re content on changing your habits and going from status quo to quickly doing all you can to keep your credit score high.

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