The year has zoomed by! Winter gave way to spring, and it seems like the flowers were only just blooming when the kids got out of school.
Summer was a blur. The kids went back to school, and now we’re facing the gift-giving holiday season in a month or so.
Life is a whirlwind and you might wonder how you can possibly find the time to work on your credit during the chaos.
I’ve complied four strategies you can implement this fall. The best part is these strategies are fast and easy to implement and can have a quick, positive impact on your credit score.
1. Review your credit card statements.
Every month we get a list of our purchases conveniently mailed to us. Don’t throw them into a drawer to look at later because later never comes.
Instead, take five minutes right now to open the envelope and review them. Make sure you recognize every purchase.
2. Set a strict spending limit.
Credit cards give us a lot of room to buy things if we need to, but if you set a strict spending limit (for less than your discretionary income), you’ll easily pay off your credit cards each month.
Hint: Regularly paying off your credit cards and other bills will have an amazing impact on your credit scores.
“If you carve out a few minutes, you’ll
make strides toward healthier credit.”
3. Apply for credit to improve your credit mix.
This one surprises most people, but your credit score is partly based on a mix of different types of credit.
If you have several types of revolving credit (such as credit cards and lines of credit), then consider applying for a small installment loan, such as a personal loan or car loan.
Institutions like to see you can handle a mix of different types of credit!
4. Pull your credit reports and review for accuracy.
Pull your credit reports from each of the three credit reporting agencies and review those reports for accuracy. It’s easy for errors to be inadvertently added, so your diligent review will keep your reports accurate and your credit optimized.
Bonus tip: Don’t leave this until the new year.
Most readers might decide they are too busy now, but the folks who read this and then rush out right away and get their credit reports will see a noticeable improvement sooner. Do it now!
From now through the new year, life will seem to get even crazier. We’re all facing it, but if you can carve out just a few minutes from time to time to do these four things, you’ll make huge strides toward cleaner, healthier credit – faster than you imagined possible!
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