(Akiit.com) Thanks to the internet, it’s now easier than ever to keep track of pretty much every aspect of our lives, and this includes our financial lives.
If you’re looking to either get out of debt or just want to ensure that you have and maintain a good credit score, then are plenty of ways you can do this easily – and mostly for free.
Keeping an eye on your credit score is always a useful thing to do because, although it may not be relevant to you right now, you may want to take out a loan or mortgage in the future, and for that your credit score will play a crucial role in your ability to be accepted.
In this post, we’re going to share with you some simple and effective ways that you can stay on top of your credit score and boost it if it’s not quite where you’d like it to be at this moment.
Find out your score:
The first step in boosting your credit score is finding out exactly what your score is. There are many places online that you can go to get this information and you’ll get a full, detailed report of all your credit history, what you owe, and what your repayment status is with certain lenders. There are many factors that go into determining your credit score, but most of these companies will be able to show you exactly how it’s calculated. Getting into the habit of monitoring your credit score is also a good way to ensure you’re maintaining good levels of credit protection by making sure that no one else is taking credit out in your name that could be damaging your score.
Make a debt repayment plan:
Once you know exactly what you’re dealing with in terms of your credit score, then it’s important to make a solid plan to start repaying this so you can begin building up a positive credit score. This won’t happen overnight, but after a few months, you’ll start to see the differences reflected in your score, which can also be quite motivating once you get into the habit of checking and monitoring your score.
Follow up on any mistakes:
Although credit scores are pretty accurate, they’re not perfect and mistakes can happen, so if you see something on your credit file that you either don’t recognize as something you’ve taken out on credit or you know is something you’ve already repaid, then make sure you follow up with the company in question to take the steps to have this debt removed from your file.
Take a small amount of credit:
Taking credit to boost your credit score can seem counter intuitive, but it’s actually recommended to have some credit against your name to show that your able to repay it. For example, many people think that having no credit against their name whatsoever will work in their favor when applying for a loan or mortgage, but this can actually have the opposite effect and leave you with a low score according to their algorithms. Start by taking out something like a small credit building or low interest credit card or mobile phone and make your payments or clear your balance each month in full and this will help you build up a positive credit score.
Staff Writer; Jerry Day