How do I get great to excellent credit?

Here are some steps you can take to improve your credit score:

1. Pay your bills on time: Payment history is the most important factor in determining your credit score, so it’s important to pay your bills on time every month. Set up automatic payments or reminders to help you stay on top of your debts.
2. Reduce your credit utilization: Credit utilization is the amount of credit you are using relative to your credit limits. A high credit utilization ratio (more than 30% of your available credit) can have a negative impact on your credit score. To improve your credit utilization, try to pay down your balances as much as possible and avoid maxing out your credit cards.
3. Don’t apply for too much new credit: Every time you apply for credit, it generates a hard inquiry on your credit report, which can have a negative impact on your credit score. Try to limit the number of credit applications you make, especially if you have a low credit score.
4. Check your credit report: Review your credit report regularly to ensure that the information it contains is accurate. If you find any errors or mistakes, dispute them with the credit bureau.
5. Use a mix of credit types: Having a mix of credit types, such as a mortgage, a car loan, and a credit card, can help improve your credit score. However, it’s important to manage all of your credit responsibly to avoid damaging your credit score.

Remember, improving your credit score takes time, so it’s important to be patient and consistent in your efforts. Prominent Financial Consultants offers a range of services to help our clients succeed, including Credit Repair and we would love the opportunity to discuss how we can help you. If you would like to schedule an appointment with us, please schedule a free 15 Minute Financial Clarity Call so that we can learn more about your needs and goals.