3 Tips – Increase your Credit Score using a Credit Card
Your credit score is important, especially if you’re wanting to purchase a large ticket item such as a vehicle or a home in the future. It’s simple, have a higher credit score, pay less money when you need to borrow money. Your credit score is like renovating your home, it’s not going to improve overnight, but an easy starting point is to get a credit card! If you’re planning to get a credit card, here are some tips:
- Have a high credit limit, with a low balance: Prove you can use your credit responsibly. It shows that you’re not living beyond your means and you’re able to re-pay.
- Utilize apps: Check your balance daily and make payments to ensure you’re below that 50% balance at the time your institution reports to the credit bureau.
- Start your credit history early: Long term open credit cards show on your report, and it makes you look good.
Apply today for our Midland Credit Union Credit card!