To say that one's credit score has value would be an understatement. However, it has to be in good standing, which is something that many people struggle with. For some reason or another, their credit scores have not exactly been the most stellar. This can be improved, though, provided those men and women are willing to put in the effort. With the help of Bob Jain, here are the essential do's and don'ts to know regarding credit score improvement.
DO cover each payment on time. If you're serious about improving your credit score, you have to know that making timely payment is crucial. Whenever you receive a bank statement, make sure that it's paid off in a timely manner, regardless of how much you owe. This will help to boost your credit score in the long run. The fact that it will also keep you from experiencing debt makes it all the more important to follow through on.
DON'T apply for many credit cards. Bob Jain CS, as well as other authorities in finance, will tell you that multiple credit cards aren't recommended. One of the reasons for this is that you're responsible for covering multiple balances, which can become quite messy. When you're unable to do so, the likelihood of debt becomes much greater. Having one credit card and one debit card will be fine, so don't go overboard.
DO act responsibly with your credit card. To say that credit card ownership entails responsibility would be an understatement. In order to get your score up, Bobby Jain CS will stress the importance of modest use. In other words, you shouldn't make too many purchases during a single month, since it could be difficult for you to pay it all back later on. To keep your credit score from falling, responsible use of credit cards is essential.
DON'T become impatient when improving your credit score. The most important thing to know about credit score improvement is that it takes time. You're not going to see your score magically improve overnight, which means that you have to be patient. Make sure that you follow the aforementioned steps as closely as possible. By doing so, eventually you'll start to see the results that you're looking for.
DO cover each payment on time. If you're serious about improving your credit score, you have to know that making timely payment is crucial. Whenever you receive a bank statement, make sure that it's paid off in a timely manner, regardless of how much you owe. This will help to boost your credit score in the long run. The fact that it will also keep you from experiencing debt makes it all the more important to follow through on.
DON'T apply for many credit cards. Bob Jain CS, as well as other authorities in finance, will tell you that multiple credit cards aren't recommended. One of the reasons for this is that you're responsible for covering multiple balances, which can become quite messy. When you're unable to do so, the likelihood of debt becomes much greater. Having one credit card and one debit card will be fine, so don't go overboard.
DO act responsibly with your credit card. To say that credit card ownership entails responsibility would be an understatement. In order to get your score up, Bobby Jain CS will stress the importance of modest use. In other words, you shouldn't make too many purchases during a single month, since it could be difficult for you to pay it all back later on. To keep your credit score from falling, responsible use of credit cards is essential.
DON'T become impatient when improving your credit score. The most important thing to know about credit score improvement is that it takes time. You're not going to see your score magically improve overnight, which means that you have to be patient. Make sure that you follow the aforementioned steps as closely as possible. By doing so, eventually you'll start to see the results that you're looking for.
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