Page with a house icon on itBlogs

Understanding Credit

Tips for a Healthy Credit Score

What can hurt your score?

  • Missing payments, regardless of the amount, will take 24 months to restore credit.
  • Credit cards at capacity/maxing out credit cards
  • Closing credit cards out, this lowers available capacity
  • Excessively shopping for credit
  • Opening up numerous trades in a short time period
  • Having more revolving loans in relation to installment loans
  • Borrowing from finance companies

Practices to improve your score:

  • Continue to make payments on time, older late pays become less significant with time.
  • Do not close credit cards because capacity will decrease
  • Slow down on opening new accounts
  • Acquire a solid credit history with years of experience
  • Moving revolving debt to installment debt