What are the simplest ways to increase your credit score?

There’s a lot of doom and gloom that surrounds credit scores. However, things aren’t always as bad as they seem! While finances can be tough to reign in and control, there’s always an opportunity to turn things around and better your situation. Remember, it’s never too late to take a low and/or middling credit score and make improvements!  

Consequently, it’s worth considering further; what are the simplest ways to increase your credit score?

Bill management

There’re two things you can do with bills that will boost your credit score. One is to pay your bills on time. The other is to take official credit for the payment of those bills. If you’re in a house share and the payments go out through a direct debit of a housemates account, then this won’t affect your score at all. You need to be registered so there’s a record of everything you’re paying.

Stay on top of everything you owe here, and eventually, you’ll start building your credit score back up again. After all, all a credit score really does is assess how financially responsible you are. When you can demonstrate that you’re taking charge of these commitments in a timely fashion, your financial record will glow to reflect that change in your behaviour.

Credit card use

These days, there’s a lot of controversy surrounding credit cards as soaring debts lead the best deals to be taken away. Still, you need to use your credit card often, but obviously, not for big purchases that’ll deplete your resources in a couple of weeks. Therefore, you should use your credit card whenever you have a small purchase to make.

This shows banks and other lenders that you’re not reckless with your credit, thereby improving your credit score. It proves that you spend within your means and that you don’t let shopping sprees go out of control. Pay your bills through it too to increase its activity – your credit score will get a further surge from this too!

Current account

Financial responsibility isn’t easy, and to suggest otherwise is a mistake. Whether it’s difficult circumstances or just a battle of wills, not everyone is capable of independently turning their situation around. Still, it’s not the end of the road just yet; in times like these, extra help is certainly out there.

For example, a current account from Think Money will help you keep your finances in check. They’ll automate your bill repayments and isolate you from the owed amount of money but ensure you’re able to spend the rest freely. They’re essentially carrying some of the responsibility for you. This will help you make those essential payments you can’t afford to forget about or ignore, but not have your lifestyle fundamentally changed.

Conclusion

Ultimately, improving your credit score can be a straightforward process with the right know-how and resources at your disposal. If you’re prepared to take some responsibility and ask for help when you need it, your financial history will be turned around in no time!

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