How to Create a Credit Score Calendar

It is important to maintain a good credit score. A credit score check free online is essential. It opens up all the financial opportunities for an individual to attain help during a financial void. A good credit score makes an individual eligible for any kind of financial product. A credit score determines the creditworthiness of an individual. There are some measures and practices that need to be taken by every borrower to enhance the score. 

It is important for every individual to create a credit score calendar. This calendar will ensure that you plan out all the habits and activities that will help you get a good credit score. A good credit score is 750 and more. If you need an excellent score, you must make sure to increase your score by maintaining a calendar that will involve only the best activities that will enhance your credit score in the best way. Here is how you need to make your Experian credit score calendar with the following actions.

●        Pay your bills on time: A credit score is subject to various measures and activities related to credit. Payments are an integral part of what decides the credit score. Late payment is not a good credit activity because it lowers your credit score.If you are aiming for an improvement in your credit score, you need to make sure that you pay your bills on time. Every bill or EMI has a due date. The bills need to be paid by the due date and not after that date. When you delay, you not only pay extra charges but also lose credit points from the score. This also gets registered in the credit report and leaves behind a financial scar.

●        A credit account bill always has two parts: the minimum amount and the full amount. One should always pay the full bill amount. There should not be any overdue or outstanding amounts. Paying the full amount will help you maintain a good credit score and will not result in any extra fees or charges. Do not keep any outstanding balance, as that will make it expensive as well as damage your credit score. Learn How to calculate business loan by using business loan calculator.

●        Have a balanced credit utilization ratio: A good credit utilization ratio will bring a good credit score. The credit accounts will come with a pre-approved limit and one cannot use the entire credit limit. When the total pre-approved credit limit is used and exhausted, it burns down your credit score. So aim to pay off the bills once you exhaust them. Maintain a balanced credit utilization ratio. You should always keep a certain portion of the limit unused.

●        Don’t use too many credit cards; a credit card is a very expensive form of debt. One should not use too many credit cards. It is very easy to use and very flexible. However, the pre-approved credit limit leads to wastage. High credit card bills become a burden and you end up missing out on payments, thereby damaging your credit score. Keep one credit card and only use it when you don't have enough money.

●        Allow your credit account to mature: A long credit age is beneficial to your credit score improvement.If you are aiming to get a good score, you need to keep your credit account open. Do not close it even when you do not use it. This will not be feasible and you will end up losing your score.

Finishing up

Credit score check for free online to keep track of your current Experian credit score.It will help you deal with your credit eligibility in the best way.

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Created on Sep 23rd 2021 03:01. Viewed 412 times.

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