No matter how old you are a good credit score can open a lot of doors for you. From home ownership to apartment rental to buying a car or purchasing a high-priced item, good credit can help in paying it off without whopping interest charges.
Having a high credit score can be incredibly beneficial, especially if you don’t have tons of cash in the bank or are relying on California payday loans when just starting a job.
However, when it comes to getting a good credit score, it isn’t obvious what you need to obtain one. While paying back those California payday loans on time can help you establish better credit, there are a variety of things you can do.
Even a person, as young as 22, can achieve a great credit score. Use this guide to help you understand how someone so young got a credit score of 750+. No matter how old you are, you can benefit from this information:
- Pay every bill on time, always. It might sound obvious, but just a few late payments can really damage your score. Even if you can only pay the minimum, do it on time each month.
- Keep a low balance on your credit cards. You don’t want credit cards maxed out ever. Ideally, your balance should only be about 30% whenever possible. Any higher and you run the risk of looking like you’re spending more than you can really afford, which will damage your credit score quickly.
- Don’t spend what you don’t have. Emergency situations aside, credit cards aren’t there to let you spend cash you don’t have. Spend only what you could buy with cash on your cards and you’ll be able to maintain low balances and pay on time each month.
- Avoid applying for credit cards that you don’t really need. Too much credit looks bad to reporting agencies, especially when compared with your annual income. Don’t open credit cards just because they are offered to you.
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