How to Strengthen Your Credit

Even if you can get an apartment with low or no credit, it's still a good idea to build it up so you don't have to deal with so many problems in the future.

One way to improve your credit is to let the credit bureaus know that you pay your rent on time. Make sure you pay on time every month if you do this. If you don't pay on time, it can hurt your score. "Paying your rent on time is a great way to build your credit score," says Zrimsek. Ask your landlord if they report your payments, or do some research on your own to find rent reporting services.

You can also do the following to improve your credit:

Be smart with credit cards. Get a credit card and make sure to pay it back on time. If you don't have enough credit, you might have to start with a secured credit card.

Use a credit card with a deposit. With a secured credit card, you put down money as security. Most of the time, the amount you put down will be the same as your credit limit. You can build a credit history by making payments on time until your credit score is high enough to get a regular credit card.

Watch how you use your credit. How much of your available credit you use is called your credit utilization. Motola says, "Even if you pay your bills on time, you can lose some points if you spend too much of what you have." Most experts say that your usage should be less than 30%.

Use services to improve your credit. Zrimsek says that services like Experian Boost let you add things like paying your internet or phone bill on time to your credit score.
Previous Post Next Post

نموذج الاتصال