Infographic: How to Improve Your Credit Score

It’s no secret that good credit is an important factor when preparing for a home purchase. If you are trying to improve your credit score, there are some simple ways to make great progress.

Have you looked at your credit report recently? If not, now is a good time to do so. And if your credit report contains mistakes, ensure they are corrected.

If you changed your name, it is important to have your new name connected to your former identity to prevent negative credit changes.

A great way to improve your credit score is to not have debt linked with those who have bad credit. That means no joint mortgages or credit cards.

Creditors love consistency. Showing that you’ve resided at the same address, had the same job, or utilized the same bank for a long time are all great ways to prove stability and improve your credit score. To that end, if you are shopping for a new credit card, don’t apply for a bunch of different cards and decide which one to keep later. Do the research upfront and limit how many card applications you submit; if you’re applying for more than one, space out application dates. Applying for too many credit cards at once signal instability to creditors.

If you prefer learning visually, here is a great infographic from Money Supermarket with 10 tips to improve your credit score:

 

What tips have helped you boost your credit score? Join the conversation in the comments section below!

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