Were you taught about credit scores in school? Probably not. Considering the amount of influence a credit score has over your life, it is amazing that credit management isn’t taught as a general class all throughout high school.
Your credit score is a number that is used by lenders and put together by credit bureaus to determine the risk you pose to lenders. It is called your “creditworthiness”. It is important to know what your credit score is and also that you know how to work towards having a high credit score. You can ensure this in a multitude of ways. You can improve your credit score by paying rent, understanding your credit utilization and using every possible avenue to increase your score.
5 Ways to Increase Your Credit Score
- Add rental history to credit report
This is an easy way to increase your credit score. You pay rent at the same time, every month, which makes it a perfect bill to increase your credit score. Add rental history to your credit report and improve your credit score by paying rent!
- Use a credit card for all of your purchases
Credit cards give you a very useful tool on your journey to improve your credit score. If you use your credit cards for all of your purchases and pay them off at the end of the month, you are showing that you are responsible and that you don’t overspend. You are “acting your wage”, which credit bureaus like to see. If you find a way to pay your rent with a credit card, you can double down by improving your credit score by paying rent and paying it off every month.
- Pay all of your bills on time
All of your bills need to be paid on time. Payment history is the #1 factor when determining your credit score. If you aren’t paying bills on time, your credit score will suffer. That is why adding rental history to your credit report gives you such a boost on your credit score.
- Don’t max out your credit availability
Credit utilization is the second most important factor when credit bureaus are determining your credit score. If you can’t pay down your balances to zero, make sure that they are not sitting over 30% of your total available credit. This is for lines of credit, credit cards and any other type of available credit. This is what makes improving your credit score by paying rent so attractive. You don’t risk utilizing more credit if you are paying your rent with cash or debit every month.
- Use every possible avenue to increase your credit profile
Building a high credit score may take some creativity if you are just starting out. That means maximizing every possible opportunity to increase your credit score. You can now find services that will let you use your banking history, bills that typically wouldn’t qualify to a credit bureau and much more. Adding rental history to your credit report and improving your credit score by paying rent is the easiest and most effective of these methods.
Improve Your Credit Score by Paying Rent
CreditRentBoost.com gives you the ability to improve your credit score by paying rent. Adding your rental history to your credit score gives you a great advantage when improving your credit score and CreditRentBoost.com makes it simple and easy.
Reach out to CreditRentBoost.com and begin improving your credit score by paying rent today!
