7 Simple Hacks for Building Better Credit

I think the following raises some excellent points about Credit Score. I’ve included a few of the highlights for you to get the gist of the article:

Here are a few ways to hack your credit score. 

1. Pay Off Big Credit Card Balances 

Because if you’ve got ’em, there’s a good chance they’re messing with your credit utilization ratio. That’s how much debt you’re carrying versus your total credit. It’s recommended you keep that ratio below at least 30%, and ideally 10%, of your limits. So paying off purchases putting you over that threshold — in total and on individual cards — can help. 

2. Ask for a Credit Limit Increase 

If you can’t address those balances right away or you’re saddled with a seriously low credit limit, you can ask your issuer to up your limit. Some notes before you do: They’ll likely pull your credit to see if you can handle the increase. If your credit is bad, you might be met with a resounding “no.” Whether approved or denied, that credit pull will leave a hard inquiry, which will cost your score a few points. That ding is worthwhile if you get what you’re asking for but less so if you don’t. You can find more on asking for a higher credit limit here.

What do you think? Maybe you’d like to read on? Check out the full version here… https://www.ajc.com/business/personal-finance/simple-hacks-for-building-better-credit/VUAXnMuLIK6E2Yyos3ssOL/ then give me a call to discuss how this might impact your own business: (0400) 032-110. Alternatively, email me at [email protected].

Thanks,

Bill Mitchell