Not having a credit history creates other problems, as well. It can make it difficult, if not impossible, to get a car loan or a mortgage. And you may need a credit card to simply rent a car or book a hotel room. So how can you begin to build up your credit and credit score?
First, find out where you stand. Having limited credit history doesn’t necessarily mean you have no credit score at all, and you’ll need to know what it is — and where it’s going — if you’re serious about getting back on sound financial footing. The best place to start isCredi...
A higher credit score can make it easier for you to get a loan and more favorable rates. Here are 7 credit-boosting tips from Better Money Habits.
Payment history (whether you pay bills on time) and credit utilization (the amount of credit you’re using compared with your limit) are the two biggest factors that affect your credit score. So make a plan to pay dow...
Ways to raise your score as credit slumpsPatricia Sabatini
Build a Credit History Okay so, funny story, back before I went toMoney Rehab, I used to keep my cash in a safe. True story. As you can imagine, my credit score was crap because of that. It took me a few years of disciplined use of the plastic to get it somewhere respectable. ...
What Is a Credit Score? A credit score is a three-digit number that rates your creditworthiness. FICO scores range from 300 to 850. The higher the score, the more likely you will get approved for loans and better rates.1 A credit score is based on your credit history, which includes in...
Here are 5 tips that can help you raise your score: 1) 35% of your scores are calculated by your payment history. Try to make them on time. Not doing so will decrease your scores. 2) Keep credit card balances low. High outstanding debt can pull down your score. 30% of your scores...
Free reign combined with minimal income and interest-free overdrafts can lead to mounting debt – while a poor credit score may hamper you long after graduation. Thankfully, taking out a student loan doesn’t cause bad credit in itself. If that comes as a surprise, you’re not alone. A...
Enrolling in automatic payments for paying your bills and utilities is a simple way to improve your on-time payment history and build your credit score. It may also help to download a free budgeting app to track your spending and bills across all your bank accounts. ...