“๐ ๐ธ๐ช๐ญ๐ญ ๐ฏ๐ฐ๐ต ๐ถ๐ด๐ฆ ๐ฎ๐บ ๐ค๐ณ๐ฆ๐ฅ๐ช๐ต ๐ค๐ข๐ณ๐ฅ ๐ด๐ฐ ๐ฎ๐บ ๐ค๐ณ๐ฆ๐ฅ๐ช๐ต ๐ถ๐ต๐ช๐ญ๐ช๐ป๐ข๐ต๐ช๐ฐ๐ฏ ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐ด๐ต๐ข๐บ ๐ญ๐ฐ๐ธ.”
Oops! That’s not how it works! Not using your credit cards does not help increase your score!The best way to help your credit score is to show you can manage debt properly. If you have 3 to 4 credit cards, use them responsibly. Make sure the balances never go above 30% of the credit limit.
Paying down the balance before the billing cycle ends or paying several times throughout the month will help keep your balance low. The biggest factor is paying on time and the second-biggest factor in your credit score is your credit utilization. As soon as your credit card reports a lower balance to the credit bureaus, that lower utilization will be used in calculating your score. Ideally, keep your credit utilization below 30%. Best to have it between 1-9% to see fast improvement!
“๐ ๐ฌ๐ฆ๐ฆ๐ฑ ๐ง๐ฐ๐ณ๐จ๐ฆ๐ต๐ต๐ช๐ฏ๐จ ๐ฎ๐บ ๐ฑ๐ข๐บ๐ฎ๐ฆ๐ฏ๐ต๐ด. ๐๐ฐ๐ฎ๐ฆ๐ต๐ช๐ฎ๐ฆ๐ด ๐ ๐ญ๐ฐ๐ด๐ฆ ๐ต๐ณ๐ข๐ค๐ฌ!”
You can set calendar reminders so you won’t forget to make payments! You can list all your accounts in order, write the minimum payment for each, add up the total of your monthly debt, write down the extra amount of money you can apply towards your debt each month. You can also use a specialized app for organizing your money and reminding you about your bills.
“๐ ๐ฎ๐ช๐ด๐ด๐ฆ๐ฅ ๐ข ๐ฑ๐ข๐บ๐ฎ๐ฆ๐ฏ๐ต ๐ข๐ฏ๐ฅ ๐ช๐ต’๐ด ๐ฃ๐ฆ๐ฆ๐ฏ 30 ๐ฅ๐ข๐บ๐ด. ๐ ๐ฅ๐ฐ๐ฏ’๐ต ๐ฌ๐ฏ๐ฐ๐ธ ๐ธ๐ฉ๐ข๐ต ๐ต๐ฐ ๐ฅ๐ฐ.”
If you miss a payment for 30 days, pay up as soon as you can. You may be charged for an interest fee and late payment fee but the account is will not yet be reported to the bureaus. However, if you are more than 30 days late, the creditor/bank/lender will report to the bureaus. In that case of missing a payment for more than 30 days, you can try asking for a good will removal. The impact of late payments fades over time and adding good standing credit accounts can help speed that up.
๐ผ๐๐ ๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐ ๐ ๐๐๐๐ ๐๐๐๐. ๐ฉ๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐ ๐ ๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐๐๐ .
