How Nurses Can Improve Their Credit Score 

It is at times when we least expect it that we hear “We have to check your credit” and were usually not prepared for it. However, you ought to be ready for this at all times so you can purchase a car or a house, be eligible for loans or be employed. More than most people are aware of, FICO score matters a lot.

Various factors are taken into consideration when calculating your credit score, but a score within the 600-750 range is considered very good. Higher credit scores mean you will more likely be considered dependable and granted a reduced interest rates on loans. On the other hand, if you have a lower score, you’ll most likely be seen as a high risk as regards finances. Below are tips on how you can ensure you maintain a high credit score. Put them into practice and avoid being a high risk.

SETTLE YOUR BILLS PROMPTLY

Although this sounds easy, paying your bills in good time and regularly is the primary thing to do in order to ensure that your credit score remains on the increase. A lot of people have actually been able to garner credit scores that are above 800 just from doing this, therefore this is an easy and very effective method.

REDUCE YOUR PERCENTAGE OF DEBT

Your credit score takes into consideration the amount of debt you owe as well as how much you are permitted to borrow. It is referred to as your “credit utilization” in finance terms and it is advisable you restrict yourself to 30% – 35% of your permissible limit. Therefore, if you’ve got a credit card that has a $10,000 limit, try as much as possible to limit yourself to $3,500.

CHECK YOUR CREDIT SCORE- BUT don’t OVERDO IT

When it comes to checking your credit score, there are two schools of thought. Some people are of the opinion that you shouldn’t check your credit report unless it’s absolutely necessary while some others recommend you check thrice a year at the least. However, they both agree that as soon as you spot any imprecisions you should get it sorted immediately through the website of the agency.

HOLD ON TO YOUR CREDIT CARDS FOR AWHILE

As good as it feels to be free from the grasps of credit card debt, don’t cut it up just yet as this could affect your credit rating. As crazy as this may sound, having a credit card account that’s been open long enough works better in your favor than new accounts. It portrays you as someone dependable and can commit to credit.

Written By 3rd Independent Party

2017-40694  Exp. 10/17

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