5 Tips to Increasing Your FICO Credit Score

5 Tips to Increasing Your FICO Credit Score

Many Americans struggle with or have struggled with repairing or maintaining their credit score at some point in their consumer journeys

Do you have troubled credit? Many Americans struggle with or have struggled with repairing or maintaining their credit score at some point in their consumer journeys. In most cases, the three major credit bureaus (Experian, TransUnion and Equifax) will use the FICO score to determine your creditworthiness by assessing where your credit score falls on a scale from 300 to 850. A fair score falling between 580-669, a good score between 670-739 and poor/very good/exceptional at the highest and lowest ends.

In a recent study from Experian in 2019, most Americans have fair credit. It’s likely that you may not even worry about your credit score, until the time comes when you are in the market for a new car or a new home and your credit score becomes the most vital piece of information that determines what interest rate you may be eligible for. It may become a stressful situation, but it’s not the end of the world. If you are someone struggling with poor credit, according to an article from The Credit Pros, here are 5 simple ways to improve your FICO credit score: “Pay installment loans, mortgages, and revolving credit on time, keep credit balances below 30% of the available balance, avoid applying for new credit, keep older credit accounts open and current balances low, and review reports periodically to repair any errors.” Start taking charge of your credit with a few easy practices and you will go from poor to exceptional credit in no time!

Do you have troubled credit? Many Americans struggle with or have struggled with repairing or maintaining their credit score at some point in their consumer journeys. In most cases, the three major credit bureaus (Experian, TransUnion and Equifax) will use the FICO score to determine your creditworthiness by assessing where your credit score falls on a scale from 300 to 850. A fair score falling between 580-669, a good score between 670-739 and poor/very good/exceptional at the highest and lowest ends. In a recent study from Experian in 2019, most Americans have fair credit. It’s likely that you may not even worry about your credit score, until the time comes when you are in the market for a new car or a new home and your credit score becomes the most vital piece of information that determines what interest rate you may be eligible for. It may become a stressful situation, but it’s not the end of the world. If you are someone struggling with poor credit, according to an article from The Credit Pros, here are 5 simple ways to improve your FICO credit score: “Pay installment loans, mortgages, and revolving credit on time, keep credit balances below 30% of the available balance, avoid applying for new credit, keep older credit accounts open and current balances low, and review reports periodically to repair any errors.” Start taking charge of your credit with a few easy practices and you will go from poor to exceptional credit in no time!

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