What happens when you have good credit?

Did you know that if you have good credit you can enjoy a lower interest rate on your loans, credit cards, auto insurance premiums, and more?

It’s important to keep your credit score up to date and in top shape because it will help you be better prepared for the future.

I’m here to help you be better prepared for the future.

Here are some helpful tips that you can follow:

  • Check your credit score often. This will keep you grounded and up to date on what you need to do. Your actions depend on what kind of credit you already have. If you already have good credit, find tips on how to maintain that good credit. If your credit is low, take the necessary steps to get that credit score up;
  • Pay all bills on time. If you pay your bills on time, then you won’t have negative reports on your credit. Only spend money that you can pay back at the end of every collection. Be smart and practical on your spending;
  • Avoid opening too many new accounts. Credit inquiries can have a negative impact on your score. Applying for multiple credit cards in a short period of time can make you look risky to lenders, and could make it difficult for you to get approved. Only apply when it is necessary;
  • Keep balances low on credit cards. Avoid maxing out your cards. This will reflect on your credit report and we want to keep that report as clean as possible; and
  • Don’t close old accounts unless necessary. When you close an account, the issuer will no longer send updates to the credit bureaus and will lessen your combined credit limit.

Make sure to keep these in mind. And let’s get you that good credit!

-Kenney Conwell