Here is How You Can Improve Your Credit Situation

Take control of your finances by following this advice.

Better Credit Tips Build Credit

You can improve your finances by following a few common tips we cooked up. They are not hard to follow, and they will help you build credit in no time.

 

 

Easy Tips

 

  1. Review your credit report regularly. Get in the habit of checking your report regularly (at least annually). You are entitled to a free report from all three credit bureaus once per year, so take advantage of this opportunity. Review your report for errors and dispute any erroneous information. Such errors might be unnecessarily dragging down your standing.
  2. Keep a current checking or savings account. Creditors view these kinds of accounts as a sign of stability and responsibility, so make sure you have one or both of them. Free checking is almost an industry standard, so you can find a good deal if you shop around at different banks. A current checking or savings account will also help you get good financing.
  3. Think about a co-signer. If you do not qualify for a loan on your own, you might do better with a co-signer with a good financial history. The best part of having a co-signer is that his/her good reputation partially becomes yours. That means you have a great opportunity to boost your score by piggybacking on someone elses' reputation for a while.
  4. Get a secured card. When you cannot qualify for unsecured credit cards, think about starting off with a secured card. Make sure you get a secured card that reports your activity to the reporting bureaus so you have a chance to rebuild your finances. The best secured cards turn into unsecured ones with more favorable terms after you demonstrate responsible use and payment behavior for a certain period. A secured card can also be a great alternative to short-term borrowing in emergency situations.
  5. Use it lightly but regularly. Keep your balances low and pay them off every month. You want to keep your balance-to-limit ratio as low as possible.

If you have any questions please visit our frequently asked questions page for more information.

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