In this day and age, no credit score is the same as having a bad credit score.  Even though you may fundamentally disagree with the concept of credit, unfortunately, it’s unwise to avoid it altogether.

Your credit score will determine whether you get approved for loans, cell phone contracts, and even home rentals.  It’s in your best interest to build your credit score up to as high of a number as possible. Having a good credit score is one of the greatest tools that you can create for yourself in order to build a future for you and your family.

Here are some of the best straightforward tips for boosting your credit score.

Set Up Automatic Payments

Anyone who’s ever gotten hit with a late fee on a payment knows the frustration.  It’s important not only for your credit score to pay your debts on time but to retain your assets as well.

Defaulting on payments can result in your home being repossessed by lenders and leaving you without a home.  Therefore, the best way to ensure that you make your payments on time is to sign up for automatic payments.  That way you won’t have to do anything, and the amount will come out of your account without you blinking an eye.

Pay More Than The Minimum Due

One of the biggest reasons why people are knee deep in debt is because they’re paying too little too slowly.  Rather than paying the minimum amount due every month, be sure to pay as much as possible. Paying your debt off quickly shows lenders that you’re a reliable person to give money to.  Additionally, you save more money on interest over time.

Keep Your Balances Low

Experts recommend keeping your overall credit balance below 30% of your overall credit allowance.  Going higher than this will lower your score and show lenders you’re an unfavorable person to lend money to since you may get yourself into too much uncontrollable debt.

Don’t Apply For More Loans

IF you’re trying to build your credit score up, too many hard inquiries can damage your score and bring it down several points each time.

Don’t apply for more cards or loans until you’ve gotten your score to a favorable number.  Until then, you need all of the points that you can get.

Monitor Your Credit Score Regularly

The best way to stay on top of your score is to keep an eye on it through a credit monitoring system. You’ll be able to see if you’ve made improvements or if you need to handle any red flags that come up like a bill that’s gone to collections.

By failing to keep an eye on your credit score, you may risk things getting worse without you realizing.