Ah yes, the dreaded FICO scores...........
Here are some tips on how to increase your credit score:
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Pay your bills on time: Late payments can significantly lower your credit score. Pay your bills on time, every time.
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Keep your credit utilization low: Keep your credit card balances low compared to your credit limit. High credit utilization can negatively affect your credit score.
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Maintain a good credit mix: Having a mix of different types of credit, such as auto loans, and credit cards, can help increase your credit score. Having a secured credit card is the best way to start. https://www.capitalone.com/credit-cards/fair-and-building/
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Monitor your credit report: Regularly check your credit report for errors or fraudulent activity. Correct any mistakes as soon as possible.
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Avoid opening too many new accounts: Opening multiple new credit accounts in a short period can harm your credit score.
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Keep old accounts open: Length of credit history is a factor in calculating your credit score, so keep your old credit accounts open.
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Limit credit inquiries: Too many hard inquiries, such as when you apply for credit, can lower your credit score. Only apply for credit when you need it.
Remember, improving your credit score takes time and effort. But by consistently following these tips, you can raise your credit score over time.
Claudia