Tips for Creating Yourself an Impressive Credit Score


A good credit score is key to your financial future — here’s how to boost it from CNBC.

It is perhaps unnecessary to state that your credit score is as important as the first impression you make on strangers (who might possibly be angels).

It is the condition required to assess whether you deserve certain privileges or not. It is almost as important as your Social Security number.

Just keep in mind that your credit score details are open for the credit card issuers, banks, mortgage lenders, service providers, and house owners to check, and their assessments of you are often based on your score. They can deduce how reliable you can be on financial matters and what your capacities are toward meeting up to certain rates of interest.

In fact, one certified financial planner from Brewster Financial Planning, they are located in Brooklyn, Jackie Lin-Ham, remarked that a credit score is gradually becoming a yardstick by which employers measure the reliability and integrity of job seekers and employees.

Therefore, it is a wise step to decorate your credit score nicely even if you do not currently have any intentions to make any huge buys, like a house or a company. In this light, what steps would ultimately lead to an improvement in your credit score?

Tip #1: You do not climb a tree from its leaves.

You must know what your credit score is now because that’s where you start from. Typically, the credit score scale is calibrated from 300—850.

With a credit score that reaches or exceeds the threshold of 750, you will make a quality impression on any examiner—that’s outstanding, and it affords you access to huge privileges, such as loans with reduced interest rates.

Over 51 million individuals can constantly and effortlessly get information about their credit scores based on the reports from the Consumer Financial Protection Bureau.

The reason for this is the service of credit card issuers (like Capital One, Discover, and Citibank) involves them including such information about these scores in their statements of accounts and sometimes through the internet.

In fact, online sites like,, and offer the service of bringing your credit details right to your fingertips with the associated analysis.

Tip #2: pointed out a big mistake that many customers make—they do not check their credit reports to find out if there are errors or transacts that they never permitted.

Studies by FTC in 2001 had indicated that only 25% of customers actually spot such errors in their reports.

What could happen to their credit score if they do not report such lapses? This attitude can be very expensive, so you must check your credit report regularly.

Once annually, you can request to get a report on your credit details from the major bureaus (whichever you are most comfortable with), namely Experian, Equifax, and TransUnion; using a website like

In case, just in case, If you happen to notice a flaw in your credit report, be sure to bring it to their attention for necessary adjustments so that you do not hurt your credit score.


Tip #3: John Ulzheimer, who is the head of customer education at

He remarked that many individuals have no idea how much harm the act of piling up debts on our credit card does to our credit score. Well, it hurts our score very badly.

If you have credit card debts, it is best to settle them because it reduces the money paid in interest. Yes, you could be paying the minimum required time consistently, but by emptying a drum of water with a spoon, you are not likely to achieve much.

The idea is that your percentage score is swiftly interwoven with your debt-to-credit limit ratio.

In tip #2 above, if you cannot pay up all your debt then at least ensure that by the month’s end, the value of your debt is below the 30% of your credit limit. This is crucial if you want to get a good percentage score.

While launching new accounts within a short timeframe can signal danger, your credit score analysis is carried out in the following order:
● Payment History 35%
● Credit History 15%
● Blend of Credit consumer uses 10%
● Recent Credit 10%
● Percentage Score 30%

Creditors actually find this information useful in evaluating how dependable and trustworthy a consumer can be toward redeeming debts, utility bills, and loans.

Tip #4: Irrespective of the fact that you have paid off a credit card, ensure to keep it active.

Don’t haste to close it. It is also a good practice to make sure that you use your cards frequently within 12 months, and it is a great practice to boycott paying unnecessary interest by clearing your balance within the same month.

If you fail to use your cards for an extended period of time, your card stands the chance of being removed by card issuers.

In the candid opinion of Ulzheimer, by closing credit cards that you have paid off, you give away materials that could be sort of a credit score insurance for you, and you won’t have the chance to use them later. Let the credit cards make up a good history for you.

Experts have advised that the best practices demand that you do not apply for numerous credit cards simultaneously as they are like spores that can drain your credit, and they also advise on ensuring that you monitor your chosen cards.

For teens and youths, it could be a task to build your history.

However, you must realize that the point is not securing a card and utilizing it, but rather about timely payments. From student loans to all the various bills, you must be up-to-date with your payments.

The reward for such promptness in paying for your card has a huge impact on your score, says Ulzheimer, and it’s not ridiculously non-trivial an activity to sustain.

You must note that the measure you put into inflating your credit score would certainly mete vast financial benefits for you in the near future.


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