When it comes to today’s modern lifestyle, your credit score is your financial footprint. It is important to have a strong credit score not only to be able to be approved for a loan but even for things like renting an apartment or even getting a cell phone contract.

Some people make the mistake of assuming that if they never open up a credit card then they will keep a strong credit score, however, no credit is the same as bad credit as far as the credit bureaus are concerned. Lenders want to see that you are a strong candidate and have a history of paying back your debts in a timely fashion.

Therefore, if you are looking to improve your credit score and aren’t sure where to start, here are some of the best ways.

Pay More Than The Minimum Due Each Month

When you are paying off a credit card debt you are given a minimum payment that you must fulfill each month. On your statement, you will see a breakdown which will tell you how long it will take to pay off your debt if you continue to pay only the minimum. Alongside this information, you will see how long it will take you to pay your debt if you pay in larger increments. By reading the information listed, it’s clear to see that you will save a considerable amount of money by paying more than the minimum due.

This is because when you allow the interest to pile up, you will find that your total amount owed will continue to grow and grow while you hardly have time to come up for air. Therefore, paying more than the amount owed each month is the best way to make sure that you are able to pay it off quickly with the least amount of extra interest.

Use Less Than 30% off Your Total Credit Allowance

One of the biggest factors that come into play with determining your credit score is how much of your total credit allowance you are using. If you are permitted a certain amount and are using almost all of it, this shows that your debt to income ratio is imbalanced.

Always try to keep your credit balances low so that you can ensure you won’t look unstable to lenders.

Always Pay On Time

Late payments will kill your credit score quickly. In order to keep your score at a good level and ensure that you stay in good credit standing, you should always pay on time.

Many people opt for the auto-pay option so that they never forget a payment. This is the surest way to always pay on time.

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