Your credit score is just one factor that contributes to your financial fitness, but it’s the one that can free or limit your options the most. It can determine what kind of car you can buy, whether or not you get the apartment or can finance the house, what types of interest rates you’re looking at. You can save tens of thousands of dollars or more throughout your life if you have a good credit score.
6 Tips to Boost Your Score
1. Keep an eye on credit reports. Your credit can fluctuate, and knowing your score can help you manage it.
2. Build positive payment history. With timely payments and payment in full, a credit builder loan can help you establish a positive payment history & boost your score.
3. Fix errors on your credit report. Try our partner Dovly for an automated way to find and remove errors from your credit report and repair your credit! It’s quick and easy – start here.
4. Keep credit card balances low. Try to shoot for 25% credit usage each month if you can. It’ll help your score.
5. Join Credit Builder Plus. Access tools like a credit builder loan, cash advances, credit tracking, and more.
6. Don’t open too many credit cards. Having too many new lines of credit can actually hurt your score.
7. Make payments on time. A late payment can throw off your score. Set reminders & budget to pay on time.
Need a Workout Plan for Your Credit?
Building your credit is easier than you think with MoneyLion’s Credit Builder Plus. It’s a credit building membership that helps you establish positive payment history (payment history makes up over 30% of your overall score) with a low APR loan up to $1,000 that helps boost your score as you pay it off.