If you’re looking to improve your credit score, there are ways you can boost your number. Although building your credit score depends on the credit situation, here are some steps you can take to rebuild.

Improving your credit score

Always pay your bills on time. This is the most important thing you can do to increase your credit score. Even one late payment can have a negative impact.

  • Pay at least the minimum due. Payment history makes up a large part of your credit score, so when you pay your bills, make sure you’re paying at least the minimum amount due.
  • Don’t use up all your credit. People who use less of their available credit are considered lower risk, and may receive a higher score. A general rule of thumb is to only use 30% or less of your available credit.
  • Pay off your credit card balance. Paying off your credit card balance lowers the total amount of money you owe, which is a big part of your credit score.
  • Put due dates on your calendar. Try putting the due date of each of your bills on your calendar. This will help you avoid missed payments, which may lower your credit score.
  • Set up automatic payments. Automatic payments are a bill-pay option that automatically pulls funds directly from your bank account when a bill is due. Be sure you have enough money in your account to avoid overdraft and bounced check fees.
  • Build your credit history. A person with a longer credit history is considered less of a risk than someone who recently began using credit.

The information in this article was obtained from various sources not associated with Adirondack Bank. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. Adirondack Bank is not responsible for, and does not endorse or approve, either implicitly or explicitly, the information provided or the content of any third-party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. Adirondack Bank makes no guarantees of results from use of this information.

Article written by EVERFI