We all may be tempted to say that we can't do anything about our credit scores. We can say this by blaming the economy, by blaming the President, by blaming the last two presidents, by blaming the jobless rate in our society, by making excuses. However, none of this is really true facts. There are ways, simple ways, we can improve our credit.
First, before we try to improve our credit, we should know what our credit rating is. A good credit score is anything above 720. If you can manage to get your credit rating up to that score, you can get better rates when you need them and you may even find that you can get lower insurance premiums.
Although, 720 is an ideal score to have, the startling fact that this is not the number most Americans have. In fact, static's are now saying that over 43 million Americans have a credit score under 600, about 25% of Americans. What can they and what can you do now to help improve your credit rating? Begin by trying these simple tips:
Pay your bills on time
Did you know that about 35% of your credit rating comes from whether you pay your bills on time or not? If you have trouble remembering when to pay them, keep a better schedule or consider signing up for online bill paying.
Limit your amount of credit of your credit use
Just because you have an open credit card, doesn't mean you should use it. In fact, you should only be using a total of 10 to 30 percent of the total amount of credit available to you. This does not mean that you should use 10 to 30 percent per credit card.
By keeping your credit open, you can improve your credit score and show that you have credit restraint.
Keep old credit cards open
If you aren't using a credit card, don't close it. Just keep it open. Then you will have the credit, if you ever need it. Plus, you are adding more credit to that amount that is available to you.
Do not keep applying for new credit
Show restraint. Say no when you are offered new credit. This will help keep your credit down and help you manage the credit you may all ready have.
Have different types of credit
Credit scores can improve if you have a mix of credit such as paid loans from automobiles, mortgages, student loans and an added mix of credit cards. Make sure you pay some of these off and down as you can. If you wish to learn what your credit score is today check out credit.com. This site can help show you areas in which you need to improve your credit standing for free.
