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Building Your Credit

 

 

How Does Credit Work?

 

Having a good or bad credit score can affect the interest rates you get on loans, your ability to get credit cards, buying a house or renting an apartment, and even employment, among many more life aspects! But you can make sure you get the best out of every situation by keeping up to date with your credit score and keeping it healthy.

Here are some basic tips you can follow:

  • If you already have a credit card, keep paying it off! After 6 months of making payments your credit score may go up a good amount of points.
  • Don’t apply for any more credit cards because that will only bring your credit score down, and take care of your current debt and pay off what you owe. This way you have less debt, and your score goes up if you pay your cards off.  
  • Once a year, get a free copy of your credit report through Equifax, Experian, or TransUnion. This will help ensure your credit report is accurate.