How many times have you heard that your credit report is worthless?
But in today’s post, we’re going to take a look at 10 easy ways to improve it. 1.
Use your credit history to learn more about your creditworthiness.
This one is super easy, right?
So, let’s get started.
First, open up your credit file and check your credit scores.
Start using credit scores as a resource to learn about your income and credit.
In a new study from credit analysis company CreditSesame, researchers found that, when people use credit scores to make credit decisions, they’re more likely to buy things they could never afford before and more likely than others to use credit to pay down their credit card debt.
Get a credit card and start using it to make your credit reports more useful.
In our latest video, CreditSeeds creator Josh Siegel talks about how he created CreditSeed, a free credit score tool that lets you see your credit and credit score history and analyze your scores to learn how you’re performing on your payments.
Invest in your credit cards for more financial freedom.
Take your credit card balance and compare it to your income to help you better understand how you are spending your money.
Learn about the average annual interest rate for your credit accounts.
Credit scores like Experian’s and Equifax’s offer information on interest rates on credit cards, but many people use them to find out how much they’ll have to pay for the credit card they want to buy.
Find out what you can get for your money with a credit report.
Set up automatic alerts to let you know when your payment is due.
Start your credit check for the next time you go to a store.
Make your credit files easier to use.
If you’ve been struggling to understand your credit situation, this article from CreditSolves partner, Mortgage Solutions partners, will help you with your credit.
Follow @mike_zellner for more information on financial literacy and how to improve credit scores for yourself and your loved ones.
Miles Tolan is the creator of CreditSeeds and a founder of Mortgage Solutions Partners.
Mike Zellner is the CEO of CreditSolutions Partners.
Mental Floss is a publication of The Atlantic Institute.