{"id":5019,"date":"2021-05-07T11:17:51","date_gmt":"2021-05-07T15:17:51","guid":{"rendered":"https:\/\/talk.talktotucker.com\/?p=5019"},"modified":"2021-11-07T21:44:23","modified_gmt":"2021-11-08T02:44:23","slug":"credit-score-fitness-how-do-i-improve-my-credit-score-or-keep-it-high","status":"publish","type":"post","link":"https:\/\/talk.talktotucker.com\/buying-and-selling\/credit-score-fitness-how-do-i-improve-my-credit-score-or-keep-it-high\/","title":{"rendered":"Credit Score Fitness: How Do I Improve My Credit Score or Keep It High?"},"content":{"rendered":"
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You\u2019re starting to have some clear goals about your future, and you know that a good credit score can help you achieve them — particularly if those goals happen to include homeownership.<\/p>\n\n\n\n
Your credit score not only controls your ability to get a mortgage loan<\/a>, but it also affects your loan\u2019s interest rate. A good credit score can, then, not only help you get your dream home but save you thousands of dollars over time.<\/p>\n\n\n\n So what can you do to keep your credit score where you need it? Or, if your credit score is lower than you\u2019d like, what can you do to boost it a bit higher? We\u2019ve got the information you need.<\/p>\n\n\n\n <\/p>\n\n\n\n Your credit score (also called a FICO score) is a three-digit number that ranges anywhere between 300 to 850. The score is seen as an indicator of how reliable you are when it comes to managing your money and repaying your debts, and a higher score is better.<\/p>\n\n\n\n While every lender has unique criteria when it comes to acceptable credit scores, a credit score between 670 and 739<\/a> is generally considered good, while a credit score between 740 and 799 is very good — and anything over 800 is excellent. <\/p>\n\n\n\n A score less than 670 means your credit is either only \u201cfair\u201d or \u201cpoor,\u201d which is likely to restrict which lenders you can use and cause you higher interest rates on your loans. <\/p>\n\n\n\n Your credit score goes up and down a little all the time due to monthly changes in:<\/p>\n\n\n\n Another factor that affects your credit score is the length of time you\u2019ve been building your credit — which may not be something you can do much about. Generally speaking, a longer credit history will raise your score, while people who have just started building their credit may struggle to obtain loans.<\/p>\n\n\n\n <\/p>\n\n\n\n When you apply for a loan, lenders will generally pull your credit score from one or more of the three main credit reporting bureaus. These are:<\/p>\n\n\n\n When you\u2019re working to build (or rebuild) your credit or you\u2019re getting ready to apply for a mortgage, you can\u2019t afford not to know what\u2019s in those reports. One of the fastest ways to improve your credit score is to check all three reports<\/a> for errors.<\/p>\n\n\n\n What kinds of errors can negatively affect your credit score? Look for:<\/p>\n\n\n\n Sometimes, just correcting the inevitable mistakes that creep into your credit reports over time is enough to raise your credit substantially, so be diligent about notifying each agency about the errors on their reports. Make sure that you confirm that the mistakes have been fixed by running new reports afterward.<\/p>\n\n\n\n <\/p>\n\n\n\n Maybe you\u2019ve struggled to keep a few of your credit bills paid on time in the past, but you\u2019ve never missed a payment on your water bill, electric, gas or phone line, among other things. You think that speaks a lot to your reliability as a person and your ability to prioritize your bills — but none of these are automatically included in a credit report.<\/p>\n\n\n\n1. Understand How Credit Scores Work<\/strong><\/h3>\n\n\n\n
2. Check Your Credit Reports for Mistakes<\/strong><\/h3>\n\n\n\n
3. Consider Adding Your Utility Bills and Other Payments to Your Score<\/strong><\/h3>\n\n\n\n