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Effectively Improving your Credit Score

CityPulse

Sponsored Content Sep 10, 2018.

Effectively Improving your Credit Score

More often than not, bad credit scores are major roadblocks to borrowing money. Your credit score will have a significant impact on how much a loan will cost. Bad credit scores affect the interest rate of the loan: the lower the credit score, the higher the interest rate. Typically, credit scores range from 300 to 850 as calculated by different credit bureaus, based on your personal financial history. Those credit bureaus look at such factors as the timeliness of payments, credit usage, total credit accounts, credit inquiries and negative marks.

Credit scores cannot be improved overnight. Paying bills on time, clearing up any accounts in collection, limiting credit applications, not racking up high balances and not canceling or closing your credit cards are effective ways to improve your credit score. For more information and assistance with long-term financial planning, I and my colleagues at Dart Bank are happy to help you plan for a great financial future. 

           
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