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7 Tips That Will Raise Your Credit Score

 

Is your credit score holding you back from getting the house or car of your dreams? Our Landings CU branch managers have a few tips to help raise your credit score.

 

1) Pay your credit cards in full each month. Some banks will recommend carrying a balance from month to month, claiming this is the only way to build credit. This is not true, as it benefits the bank more than the consumer.
– Tonya, Branch Manager at Mesa-EVIT

2) Open a secured credit card to establish positive credit history if you have none or only negative.
– Amber, Branch Manager at Tempe

3) Always make your payments on time. If you cannot, call the financial institution and ask for an extension to help keep your credit score safe.
– Amber, Branch Manager at Tempe

4) Just because someone will give you a loan, it doesn’t mean you can afford it. Always budget before buying.
– Amber, Branch Manager at Tempe

5) Use a free credit monitoring service to keep an eye on your credit. If they claim to be “free” but require a debit/credit card, it is NOT truly free, and will instead charge you after your “free trial” has ended.
– Tonya, Branch Manager at Mesa-EVIT

6) Rather than closing an old credit card that you no longer use, cut them up. When you close out old cards your score may be impacted negatively if you’ve had the account for a long time, as longevity is also a factor in credit scores. This will also help your over all credit ratios.
– Tonya, Branch Manager at Mesa-EVIT

7) Ensure your revolving credit balances are at 30% or lower. Preferably lower. For example, if you have $10,000 available in revolving credit, never owe more than $3,000 on all your lines combined.
– Amber, Branch Manager at Tempe

Remember that every situation is different and what may work for one may not work for all. 

We would be happy to answer any questions you may have and help you with any of your credit needs.