Borrow

Pay Your Bills on Time

Paying your bills on time will help you avoid late fees and debts sent to collection agencies, which can lower your credit score.

Pay your bills in full

Do your best to pay your bills in full, and not just the minimum amount that credit cards allow, paying over the minimum amount can help you decrease the amount owed quicker.

Use your credit card regularly

If you have a credit card, use it responsibly, which can actually be very good for your credit. This shows lenders that you’re a responsible borrower and are trustworthy with credit, which can help build your credit score.

Keep your monthly credit card spending to under 30% of your limit

How much you use your credit card heavily influences your credit score. A general rule of thumb is not to go over 30% of your credit limit, and never carry a balance from one month to the next.

Check your credit report for mistakes

Pull your credit report and check for any errors. Even one mistake can lower your credit score. If you find one, have it investigated and eliminated from your records.

Keep tabs on your financial accounts

You never know if a double charge occurred or if someone has been drawing off of your accounts. Checking them daily can help you spot these issues early on so you can deal with them appropriately.

Be Honest about your finances

Don’t be irresponsible with your spending. If you realistically cannot afford a certain purchase, don’t make it. Be honest about your financial situation before you spend your hard-earned money.

Pay in cash

Using your credit card regularly and responsibly is a good thing to build up your credit but try paying in cash for many of your purchases. This will help you avoid racking up your credit card bill and will help you stay on top of your finances and your spending.