What’s the quickest way to improve my credit score?
For someone in debt, the only way to improve a credit score quickly is to pay down the amount of debt owed. The score will immediately go up. Why are credit scores so important? Credit scores generally determine the interest rate one pays for anything they buy on credit, including furniture, tires, cars, houses, everything. Therefore, the higher your credit score, the lower your payments will be because of lower interest rates. A low credit score can add hundreds of dollars per month on car and house payments. What happens if I don’t use my credit card? Use your card or lose it. Banks across the country are trying to reduce risk. Many are now canceling credit cards for cardholders who haven’t used their credit cards in the last year or so. Do you have any final advice for credit-card holders? Don’t be afraid to use credit cards. They are convenient and help you build/retain good credit scores. However, always make payments on time and always strive to pay off the balance in full each m
