- Pay on time: One of the best things you can do to improve your credit scores is to pay your minimum payments on time, every time. You can see late payments in the accounts section of myEquifax.
- Keep your credit utilization rate low: It’s typically best to use 30 percent or less of the credit available to you on your revolving credit accounts, such as credit cards. You can see your credit utilization rate for creditors who report into Equifax on your myEquifax dashboard.
- Limit applying for new accounts: Applying for new credit accounts will usually lead to a hard inquiry on your credit report. Sometimes these can negatively affect your credit scores for a short period of time. You can see the inquiries from creditors who check your Equifax credit report in the inquiries section of myEquifax.
- Keep old accounts open: One of the factors in calculating credit scores is “average age of accounts,” so keeping paid-off accounts open can help maintain the length of your credit history, and help improve your credit scores.
- Review your credit reports regularly: It’s important to check your credit reports regularly for any unpaid balances or past-due accounts, which can negatively impact your credit scores. You can also check for inaccuracies or signs of identity theft, such as credit accounts you didn’t apply for or a phone number that doesn’t belong to you.
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