Improve Your Credit Scores

Everyone’s goal should be an excellent personal and business credit score. Here’s some simple guidance on how you may be able to improve yours.

Pay your bills on time. According to credit agencies, your credit history is the most influential factor in determining your credit score. Also, keep track of your credit balances versus your credit lines. Some experts recommend a 10% credit utilization as ideal.

The recommendation to keep open credit accounts you’ve paid off ties into this utilization guide by maximizing your credit lines. How many accounts you have and how long they’ve been open are essential factors in your score. The longer you’ve had an account, the better. Another important tip is to not jump on credit offers you receive to see if you get approved. Make sure you need the credit before you apply because each application you make can lower your credit score. Finally, periodically monitor your credit scores and be patient. Newly established good credit habits may take a while to show up in your numbers.