Credit cards can save you thousands of dollars by earning reward points, cash back, travel rewards, free insurance, travel protection and purchase protection.
A good credit score will make your life easier and can save you thousands.
Here are 8 tips to get an 800+ credit score:
A good credit score will make your life easier and can save you thousands.
Here are 8 tips to get an 800+ credit score:
1) Understand credit score:
Credit scores measures your "risk" (how likely you are to repay money & pay bills)
A good credit score leads to lower interest rates, which results in savings
A bad credit score leads to higher interest rates & difficulty being approved for loans
Credit scores measures your "risk" (how likely you are to repay money & pay bills)
A good credit score leads to lower interest rates, which results in savings
A bad credit score leads to higher interest rates & difficulty being approved for loans
2) Easy Credit Card Hack:
If you have a credit card and a child, add your child to the card as an authorized user and pay your bills on time.
When your kid turns 18 they should have a 800+ credit score.
With great credit, they can get a rental property at 18.
If you have a credit card and a child, add your child to the card as an authorized user and pay your bills on time.
When your kid turns 18 they should have a 800+ credit score.
With great credit, they can get a rental property at 18.
3) Credit Age:
The average age of your existing credit accounts for 15% of your credit score.
The longer your credit card history, the better for your credit score.
You can build credit with the length of time you hold a credit card.
The average age of your existing credit accounts for 15% of your credit score.
The longer your credit card history, the better for your credit score.
You can build credit with the length of time you hold a credit card.
4) Quick Tip to Increase Your Credit Score:
The easiest way to raise your credit score is by lowering your credit utilization.
You can boost your score by using less than 30% of your total credit line.
Calling your credit card and asking to increase your credit limit can help.
The easiest way to raise your credit score is by lowering your credit utilization.
You can boost your score by using less than 30% of your total credit line.
Calling your credit card and asking to increase your credit limit can help.
5) Limit Hard Pulls:
You can build credit by limiting hard pulls.
Applying for credit cards hurts your credit score if lenders do a hard-pull so only do soft pulls if you can.
Hard pulls reduce credit scores by a few points and will affect your credit score for ~3 months.
You can build credit by limiting hard pulls.
Applying for credit cards hurts your credit score if lenders do a hard-pull so only do soft pulls if you can.
Hard pulls reduce credit scores by a few points and will affect your credit score for ~3 months.
6) Payment history makes up 35% of your score.
One missed or late payment will have a negative impact on your score.
Automatic Bill Pay can help build credit by making all your payments on time.
One missed or late payment will have a negative impact on your score.
Automatic Bill Pay can help build credit by making all your payments on time.
7) Credit cards offer many benefits that debit cards do not.
Rewards points & cash back are "free money" if you pay your credit card in full & on time.
Use credit responsibly so it's an asset & not a liability.
Don't charge anything you can't pay off in 30 days!
Rewards points & cash back are "free money" if you pay your credit card in full & on time.
Use credit responsibly so it's an asset & not a liability.
Don't charge anything you can't pay off in 30 days!
If you pay cards on time and in full, rewards points and cash back are "free money". What's your favorite card?
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If you found this thread helpful:
• Follow me @FluentInFinance
•🔁RT the FIRST tweet
• Sign-up for my FREE newsletter to master your money: TheMoneyNewsletter.com!
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