To say that one's credit score has value would be an understatement. However, it has to be in good standing, which is something that many people struggle with. For some reason or another, their credit scores have not exactly been the most stellar. This can be improved, though, provided those men and women are willing to put in the effort. With the help of Bob Jain, here are the essential do's and don'ts to know regarding credit score improvement.
DO be timely with payments. It cannot be stressed enough: being late on a single payment can be disastrous for your credit score. This is why you have to make them as soon as you can, ensuring that no late fees are accumulated. It also doesn't hurt that it will keep your credit score from falling. For those who might not be attentive, as far as the aforementioned payments are concerned, it's probably time to change up your strategy.
DON'T sign up for too many credit cards. As companies like Bob Jain CS will tell you, multiple credit cards are harmful in various ways. For one, you have to cover more balances, which makes your financial situation messy. It also doesn't help that you run a greater risk of experiencing debt, thereby negatively impacting your credit score further. Ideally, you'll stick to stick with two cards: one for credit and the other for debit.
DO act responsibly with your credit card. To say that credit card ownership entails responsibility would be an understatement. In order to get your score up, Bobby Jain CS will stress the importance of modest use. In other words, you shouldn't make too many purchases during a single month, since it could be difficult for you to pay it all back later on. To keep your credit score from falling, responsible use of credit cards is essential.
DON'T be hasty with credit score improvement. Anyone who has improved their credit score will tell you that the process doesn't unfold overnight. As a matter of fact, it takes time for the aforementioned score to become better. The best way to go about this is by exercising patience, along with following the steps covered earlier. Do not become discouraged, no matter how long it takes; your score will improve soon enough.
DO be timely with payments. It cannot be stressed enough: being late on a single payment can be disastrous for your credit score. This is why you have to make them as soon as you can, ensuring that no late fees are accumulated. It also doesn't hurt that it will keep your credit score from falling. For those who might not be attentive, as far as the aforementioned payments are concerned, it's probably time to change up your strategy.
DON'T sign up for too many credit cards. As companies like Bob Jain CS will tell you, multiple credit cards are harmful in various ways. For one, you have to cover more balances, which makes your financial situation messy. It also doesn't help that you run a greater risk of experiencing debt, thereby negatively impacting your credit score further. Ideally, you'll stick to stick with two cards: one for credit and the other for debit.
DO act responsibly with your credit card. To say that credit card ownership entails responsibility would be an understatement. In order to get your score up, Bobby Jain CS will stress the importance of modest use. In other words, you shouldn't make too many purchases during a single month, since it could be difficult for you to pay it all back later on. To keep your credit score from falling, responsible use of credit cards is essential.
DON'T be hasty with credit score improvement. Anyone who has improved their credit score will tell you that the process doesn't unfold overnight. As a matter of fact, it takes time for the aforementioned score to become better. The best way to go about this is by exercising patience, along with following the steps covered earlier. Do not become discouraged, no matter how long it takes; your score will improve soon enough.
About the Author:
For additional financial tips from Robert Jain CS, please consult Bob Jain Credit today.. Free reprint available from: The Do's & Don'ts Of Helping Credit Scores, By Bob Jain.
No comments:
Post a Comment