Pay on time, all the time. It’s simple: Late payments, collections and bankruptcies have the greatest negative effect on your credit scores. By being punctual, you can keep your score up (and your interest rates down). Some folks struggle with making payments on time. Are you usually late? The best thing to do is sign up for automatic payment. Or try banking online with email reminders. You’ll be surprised at how doing something like changing your bill paying routine can help. And if you do pay on time, don’t change a thing!
Following these 3 steps will get you headed in the right direction to a better credit score. There are more ways to improve your score. For additional tips, visit the Credit Learning Center. Also be sure to check out the Credit Score Simulator to see how scores can be impacted by changes in credit behavior. By taking aim at a higher credit score, you’re taking control of your finances. So the next time you need a mortgage, a car or any kind of credit, you’ll know your number is going to get you the interest rate you deserve.