4 Easy Ways to Build Credit Without Changing Your Spending Habits

4 Easy Ways to Build Credit Without Changing Your Spending Habits
  • Opening Intro -

    Credit is something we all need for a healthy financial life.

    With higher credit scores, consumers have access to higher lines of credit, better housing, lower interest loans, and the like.

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For the most effective tips to build credit, consider the following.

Use Credit Reporting Services

Though some see the three credit reporting services as reminders of their poor credit, it’s important to take time to intentionally review your credit report closely. Credit reporting services offer one free credit report review once a year. Take advantage of this to make sure any errors are disputed and fixed as soon as possible. By notifying credit reporting agencies of outdated information, anyone can improve their scores once the damaging information is removed.

Get a Secured Credit Card

Though it takes a few months for changes to one’s credit score to take hold, it’s your day-to-day spending habits that will eventually cause this result in a higher score. Secured credit cards are another tool consumers can use to start rebuilding their credit. Anyone with bad credit or no credit can get a secured credit card and take control of their credit score.

While this type of credit card requires cardholders to make an initial deposit before being approved, this deposit is an incentive for cardholders to keep making payments on the card. Eventually, you’ll see an improvement in your credit score and will no longer need a secured credit card. Take full advantage of this new credit score by applying for a credit card with a higher limit like the a VISA from Centris Federal Credit Union. This way, you can keep improving your credit score while paying off the card in full every month.

Hire a Credit Repair Service

Credit repair services are designed to help clients improve their credit. After reviewing their customer’s credit reports, these companies work with each credit bureau on their behalf. This type of service is particularly helpful for anyone that needs to improve their score as soon as possible. In 3 – 6 months, most credit repair companies are able to make noticeable improvements to their customers’ credit reports.

other valuable tips:

Consolidate Your Loans for Easier Payments

Many people feel overwhelmed by the number of bills and loans they have. While they try their best to pay these off, it’s easy to fall behind in making payments. As the late payment fees pile up, having multiple loans and credit cards to pay off can take a serious toll on your credit score. This is where loan consolidation comes in. By consolidating your loans, you’ll be able to turn multiple loan payments into a single payment. Oftentimes, loan consolidation results in lower interest rates, making it easier to pay off the loan.

Having a healthy credit score is essential. wherever your credit currently is, using these tips will help you improve your credit score and adopt healthier financial practices.

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Consumer Tips reference:

GUIDE: quick credit checkup

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