Three Ways to Improve Your Personal Credit

In the eyes of lenders, your personal credit score defines a lot about you. A high one opens the door to be able to borrow more to buy a house or car, and qualifies you for better rates. A low one can hang over your head and keep you stuck in an old car or small home. While it takes time to build (or rebuild your score), it can certainly be done. Here are three of the top credit solutions NJ that will boost your borrowing power.


Use it or Lose It


Let’s start with a scenario where you don’t have a credit score because you haven’t used your credit card. While you should be commended for not taking on debt, it’s tricky because part of the way your credit is determined is by looking at how much of your available credit you use. One of the best credit solutions NJ to this problem is to use a credit card monthly, even if you pay the balance off. This will help you build credit and increase your limits.


Don’t Get Behind


Perhaps the most common reason people take hits on their score and need credit solutions NJ is that they miss their due dates. Late payments not only affect your credit, but in many cases, they automatically raise your interest rates. With easy access to computers and smart phones, you should program your due dates


Pay More Than the Minimum


Whether you’re trying to establish or repair credit, the best trick is to pay above the minimum payment due each month. It doesn’t have to be much, but $10-20 will show creditors that you’re working to give them money, making you a credit-worthy investment.


Lots of factors determine your credit score, but if you keep these tips in mind, you’ll be off to a good start to build or rebuild it!