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  • Quan Barnett

CREDIT TIPS


Everybody wants more money, everybody wants a way to retain and get more money. Since there is the problem of how to get more money, there are several principles to follow that allow us to retain our money for both present and future use.


If the COVID-19 pandemic wreaked havoc on your finances in 2020, either through job cuts or other factors, you may need to lay out a new strategy for financial moves such as a home or car purchase or readjust savings goals. But whether or not your finances have been affected, when considering financial moves for the year ahead, your credit score will likely come into play.




A credit score is a numeric summary of your credit history, a commonly used method for lenders to predict the likelihood that you will repay any loans they make to you. But in other to solve this rising issue, there are some strategies to get your credit score in tip-top shape, whether you’re building it from scratch:


Making sure to get a credit-builder loan:




A credit-building loan from a credit union could help, you will be able to make a fixed payment for like six to twenty-four months, and your money will sit in a savings account and you will be able to access it at the end of the term.

A Simple Pay Down Balances:




This is the second most important because it deals with how much revolving depth you are carrying compared with your credit limit.

Setting up automatic bi payment:

This helps protect your score from the adverse effect of a missed payment by putting your bills on autopay.

Seek out a secured credit card:

Getting a secured credit card is important, it often requires a cash deposit between $200 and $3000.




Join an account as an authorized user:

You can simply join a trusted individual, maybe a family member’s credit card.


  • Register for Experian boost.

  • Keeping old account pen.

  • Limit new lines of credit.

  • Pay off credit card balances every month.

  • Track your credit scores.

  • Protect your personal information to avoid fraud.

  • Responsibly add to your credit mix.

  • Work with the nonprofit credit counseling agency.

  • Check your credit report annually.




When the above is strictly adhered to, the story will change and your lifestyle will be affected positively and this is the aim of every individual, though a lot of self-discipline will be put in place for this to take effect in one life.

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