A good credit score is important to bag lower interest rates on loans, greater 
credit card perks, and also makes items such as cars and houses a lot more accessible. Building a good credit score takes time since years of individual behavior pertaining to the financial industry is taken into consideration. Patience is key when it comes to building a good credit score. On this page, we’ll take a look at the credit secrets review here that should put you on track:
Timely Payments
Paying bills on or before the deadline is key. If you’ve been making late payments, your score is bound to take a hit. To get things sorted, start making payments on or before time. To ease the process a bit, get enrolled in your credit firm’s automated bill paying scheme. This means funds would get debited from your personal account automatically when it’s due. You may even sign up for text and email alerts.
Clear Credit Card Balances
Eliminate small balances on your different credit cards. One of the credit secrets reviews most consumers don’t know is the score accounts different cards and their balances. The solution here is to amass all the credit cards you have and pay off the small balances on all of them. Then pick one or a couple of go-to credit cards that you could use for all expenses. This would ensure your credit report doesn’t get polluted by multiple balances.
Good and Long Credit History
Another factor considered when computing score is the total time you had a credit arrangement with a particular creditor. Generally, users are rewarded for a long-term, positive history with a creditor, irrespective of the level of activity on the account. You would likely benefit if your credit past is positive and long. Therefore, do not close unused and older accounts. For instance, if you have several credit cards, do not close the accounts they are linked to. Just stow away those cards safely and forget they exist.
Seek Credit Only When Needed
Store credit cards are commonplace and several retail stores offer their buyers a good deal if they chose to finance their purchase through external means, such as a store credit card. Before applying for the card, go through the fine print. Find out what your fees and interest rates would be. Importantly, seek fresh credit only if you need it and not because you’re being offered one. If you are not going to use that retail store card more than twice, it’s not advisable to take the new card. If you already have a credit card, use that one instead. Else, seek a card from your family or friend.
Demarcate Accounts Post a Divorce
In a marriage, it is common for couples to go the joint account route and co-sign different kinds of loans. Within this setup, the credit information of a spouse is bound to affect the other person, particularly when opening fresh joint accounts or adding a spouse’s name to an existing account. Combining all accounts when married simplifies the record-keeping process. However, during a divorce, fresh credit-related challenges could arise.
You must understand that a legal divorce doesn’t imply you’ve been set free from financial obligations relating to your joint account with your erstwhile spouse. Both you and your ex-partner would still be responsible if both your names are associated with the account.
Correct Credit Report Inaccuracies
Correct all inaccuracies relating to your credit report and ensure all the old data is removed. By amending all outdated and erroneous information listed on your credit reports, you are almost instantly boosting your credit score. If you don’t check your report frequently, you will stay oblivious to an error that could be preventing you from reaching that optimal credit score. It’s recommended to check credit reports once a year at least. If you find incorrect information on your report, you can raise a dispute and have it removed or corrected within days or weeks.
Fix Payment-Related Errors Quickly
If you missed a payment, make amends immediately. Most people don’t get back to their missed payments on time. They tend to postpone the payment due, not realizing the impact their actions could have on their credit score. How late you get with the payment matters. For instance, if you are late for not more than 30 days, a penalty fee would be applied, but your credit report would not show the late payment occurrence. But if the payment is past its date by more than a month, the credit report bureaus would definitely take notice.
Stay Away from Excess Inquiries
Every time you put in a new loan or credit card application, the potential creditor would inquire about you with credit reporting agencies. This inquiry data shows up on your credit report, typically staying listed for a couple of years. For a year, the inquiry would marginally bring down your credit score. And if there are several inquiries in a brief time period, your credit score could be reduced dramatically.