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Improving your credit score is not as difficult as you may think. First things first – you need to see exactly where you are at with your credit score.

MUST READ: Think You Know Miami? Think Again

If you don’t know where you are, you can’t get to where you want to be with improving your credit rating.  Once you know your FICO score, you can create a plan to improve your credit score more easily.

#1:  Check Your FICO Score with a Tri-Merge Credit Report

Once a year, request a score from the top three bureaus – Experian®, Equifax®, and TransUnion®.

Here’s a brief rundown of FICO Credit Score ranges (estimated – will vary between companies):

300-550 Poor May be rejected, or only accepted for very high interest rates
551-650 Average Qualify for high interest rates
651-710 Good Qualify for moderate rates
711-750 Very Good Qualify for very competitive rates
751 and up Excellent Lowest interest rates

#2:  Pay Your Bills on Time Every Time This is probably the most important thing you can do to improve a credit score.  Not doing this severely impacts your credit score.  If you haven’t been keeping up with your payments, it’s likely that your credit score has dropped substantially.

How Parents Can Teach Money Management Early

Simple Practices To Improve Your Credit Score  was originally published on elev8.com

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