Personal finance expert shares 3 relatively easy things you can do to raise a lower credit score. - NBCNewsBETTER
If you’re letting your cards collect dust that may mean you’re not overspending, but it could lead to problems. If you don’t use your credit card, an issuer may deem the account inactive and shut it down. That could lower your overall available credit and increase your utilization rate.
Credit utilization, as it’s called, is the ratio of money you have on your credit cards to the total amount of credit you have available. And it plays a big factor in calculating credit risk and therefore credit scores. When you use more than 30 percent of your available credit, your credit score is typically going to be lower because it signals to credit card companies that there’s a greater risk you may not pay it all off, or that it may take a while to do so.
To combat this, Aliche recommends paying off your pennies. By that, she means if you have a credit card you don’t use that often and it has a zero balance, use it to pay a very inexpensive bill., put it on your credit card and then pay it off. You can, of course, automate your payment so you don’t forget about it. The key is to make sure the payoff happens after you receive the statement via e-mail or mail and before the due date.
“You do those three things and your credit score will start jump, jump, jump, jump jumping,” Aliche says.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Factbox: Nineteen Democrats, three Republicans eye U.S. presidential nominationsThe crowded field of Democratic presidential candidates seeking to challenge Pre...
Read more »
Adam McKay’s Hyperobject Industries Makes Podcast Joint Venture With Three Uncanny Four ProductionsEXCLUSIVE: Following his 5-year TV deal with HBO and a first-look Paramount deal for feature films, Adam McKay’s new production company Hyperobject Industries has made an alliance for podcasts. Hyp…
Read more »
Three Ways To Make LinkedIn Work For WomenIf you have a profile on LinkedIn, the online professional networking platform, you may be experiencing gender bias and not even know it. Recruiters are more likely to click on male candidates profiles, than women. Here LinkedIn influencer Shay Rowbottom shares how women can overcome this.
Read more »
Viacom's Paramount Returns to Full-Year Profit After Three Years of LossesThe company, led by CEO Bob Bakish, reported what are expected to be its final financials before its merger with CBS Corp., which is expected to close in early December.
Read more »
At least three killed, over 30 wounded in Baghdad protestsOne protester died immediately after a tear gas canister hit his head and another died in hospital from wounds from a stun bomb fired by security forces, the sources said.
Read more »
Student kills one, wounds three before killing himself at Russian collegeA 19-year-old male student shot and killed a fellow student and wounded three ot...
Read more »