Having a good credit score can open you up to so many more options when it comes to your borrowing needs. With a good credit score, you’re open to more promotions and better interest rates. If you ever find yourself in an emergency and need to borrow money quickly you’ll have a better chance of getting what you need. Your chances could greatly increase as well if you have a credit union checking account.
What counts as a good credit score? A good credit score is usually between 670 to 739. Once you get your credit score to a number within that range lenders will see you as trustworthy whenever you apply for a loan or credit.
If you aren’t quite in the range of good credit yet you don’t need to worry. If you follow our advice and take the right steps moving forward with your credit then you could see your credit score get a boost in as little as 6 months.
Our Guide To Make Your Credit Score Good In 6 Months
When you don’t have good credit your options are limited for borrowing. Having good credit means that lenders will be on your side when you need to borrow money for debt consolidation, emergencies, or even a mortgage.
If you follow our advice, within 6 months you should see your credit score in a much better place.
Evaluate Your Credit Report
To start your journey towards better credit the first thing you should do is get a copy of your credit report, which you can request online from the credit bureaus. Many banks and other financial institutions may have a free tool using a credit score API. This will give you a good idea of what you need to work on and may also draw anything that is questionable to your attention.
It will also let you know how much money you are using from each of your credit accounts. You could have a better idea of where your biggest issues are so you can start working on them right away.
Your Payment History Is The Biggest Factor
Your payment history is the biggest factor in your credit score number. This is why it is crucial that you start paying everything on time. If you are unable to pay off the full balance you should at least make the minimum payment on time and arrange for a later date to pay off the rest of the balance.
All it takes is one late payment to make a mark on your credit score. If you are unable to make a payment on time always call your provider to set up an alternative payment arrangement. Once you get in the habit of doing this you should see a big improvement in your credit score number.
Stop Applying For More Credit
Every time you apply for a new credit card or line of credit your score takes a ding. Try to only apply for what you need, or even avoid making any hard inquiries over the next 6 months.
The Spending Habit That Could Repair Your Credit Score
When you’re working to improve your credit score one thing you should always do is minimize your credit usage to only what is necessary. There is one other thing you can do with your spending that could save your credit score, only use one credit card for your spending.
Use this credit card to pay for your necessities and then pay off the full balance. This trick has helped many people pull their credit score up nearly 100 points in 6 months.
How To Make Your Credit Score Good In 6 Months: Final Thoughts
Getting your credit score to a good place in 6 months is completely possible, and not complicated either. With responsible spending habits and timely payments, you should see your credit score number rise soon enough.