RICHMOND, Va. (WWBT) - Raising your credit score can seem impossible, even daunting. But increasing it by 100 points in a single year is possible.
Your credit score matters most these days and if yours is not so great, there are things you can do to raise it.
Lending Tree actually talked to users who did this - raised their score by at least 100 points in the span of a year - to uncover what those people did.
Here’s what they found:
The users who raised their credit scores made all of their payments on time within the past year. This is the easiest and one of the most important steps.
Fifty-five percent of the people who raised their credit rating cut their credit card debt in half in that year.
So, they were targeting the debt-- finding extra income to throw at it.
On average those people lowered their debt by $8,627 - and the biggest focus for them? Credit card debt.
And finally, 25 percent opened personal loans to either pay down their cards sooner or to consolidate debt - taking advantage of balance transfers.
It’s possible to raise your score significantly, it just takes focus and hard work.
Copyright 2020 WWBT. All rights reserved.