If you want to improve your credit or you have a major purchase in mind for 2019, here are five tips that will help you: 

1. Shoot for a credit score of 750. The highest credit rating you can get is a score of 850, but only about one out of every 200 people actually achieve this score. If you can shoot for 750, though, you’ll still get the best types of rates. 

2. Automate your payments so they’re always on time. Roughly 35% of your credit rating is based on your payment history, so set up automatic payments so all of your bills are paid on time. 

3. Watch your credit limits. A good rule of thumb is to keep your balances between 10% and 30% of whatever your credit limits are. For example, if you have a credit card with a $1,000 limit, don’t spend over $300, but make sure you spend at least $100. If you don’t use your credit or you keep it as close to 0% as possible, that will hurt your overall credit rating because banks want to see that you’re actually using your credit and actively paying it off. 

4. If you have a card you don’t use anymore, don’t close it down. If you close it down, that will hurt your credit rating. Instead, try to use it as needed and keep the balance between 10% and 30%.

5. Be careful when opening up a credit card with a specific department store. In fact, don’t do this unless you plan on shopping at that store on a regular basis and the terms of the credit card are beneficial. 

“Keep your balances between 10% and 30% of whatever your credit limits are.”

If you’d like to know more about improving your credit, you’d like to talk to an expert who can help you boost your score, or you want to check your score today to see where you stand, don’t hesitate to reach out to us. We’d be happy to help you.