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Ways to Improve Your Credit Score

Wednesday, March 23, 2022   /   by Tara Turner

Ways to Improve Your Credit Score

Ways to Improve Your Credit Score

When you apply for a loan, your credit score helps lenders decide how likely it is that they will get paid back. A credit score is based on information and formulas that help financial institutions make lending decisions. The higher your score, the better your chances are to obtain the loan. 

Here are some ways to improve your credit score. 

Sounds obvious, but first, make sure you pay all of your bills promptly. 
Try to keep credit card balances low and manage them responsibly. High debt will lower your score. 
Don't open credit cards you don't need. Opening a lot of credit accounts in a short time will lower your score. 
Don't cancel a card when you pay off a balance. Your credit score increases the longer you've been with a creditor and have been paying on time. 
Check your credit report periodically for accuracy. If you find something wrong, contact both the credit reporting company and the company that provided the information to get things corrected. 

Use these tips, and over time, you'll be well on your way to developing a solid credit history. 

If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070. Mitchell Stein License# 0208163

Stein Team Realty - Keller Williams College Park
Mitchell Stein Dre# 02081632
2440 W Arrow Route #5C
Upland, CA 91786
DRE# 01885348

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2022. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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