Three Easy Steps to Take to Increase Your Credit Score
Stay on top of your credit score, build healthy spending habits, and utilize your credit card in the best way possible
Having a high credit score is pretty desirable and there’s a lot of benefits that come with it. Some of these benefits include; getting better chances at approvals for new low-interest-rate credit cards and loans, getting approved for higher credit limits, and getting better insurance rates.
Furthermore, you need a good credit score in order to get approved for most loans and mortgages. Thus, you can see why maintaining a high credit score is important.
A few months ago, I was in the market to buy a new car. I was confident that I had a good credit score which I could use to get approved for the 0% interest-rate financing promotions at Volkswagen at the time. But, once the finance manager submitted my application for the loan, I was rejected due to a low credit score. Therefore, I had to get a bank loan with a 4.97% interest rate.
This came as a surprise to me because I thought I had a high credit score as I paid off my credit card balance every month on time, and I had never missed a payment. But turns out, there’s more to credit scores than that, so, I decided to look into how I…
