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6 Ways To Boost Your Credit Score in 2015

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It’s that time of year again – time to declare your New Year’s resolution. So why not make your New Year’s resolution something that will ultimately help you in the long run – like improving your credit score. Improving your credit score can have a number of benefits; however, it will take a lot of patience and self control. Here are six ways you can improve your credit score in 2015.

Pull Your Credit Reports

This should be your starting point in your journey of improving your credit report. Many people don’t pull their reports, but how will you know if you’ve improved your score without a starting point?

Make Payments

Making payments on time or paying off past due accounts are both super important when it comes to improving your credit score. This is because a lot of your credit score is based on your payment history.

Don’t Cancel Old Cards

You might think it will be beneficial to cancel all of the old cards you don’t use, but it’s actually better to keep them open and use it for recurring charges like your electric or cable bill. These are likely fixed costs that you will be prepared for each month so paying them off won’t be as overwhelming.

Improve Debt-to-Credit Ratio

Your debt-to-credit ratio is how much you owe versus how much credit you actually have, and can be a huge factor in improving your credit score. You can do this by asking for a credit increase, or paying down your revolving debt first.

Request Good Faith Adjustments

Not all banks will do this, but if you notice you had one or two late payments – for things like an oversight in due date or a one-time financial problem, ask for a good faith adjustment. In the event that your bank makes the adjustment, your score will automatically increase.

Dispute Errors

Go through your reports with a fine-toothed comb to make sure there are no errors. Enlist the help of a professional if it is necessary for your situation. Many people have their credit score negatively affected by a minor error with a simple fix – don’t be one of them.

To learn more about ways to boost your credit score in 2015, visit here.

How To: Cut Energy Costs This Winter

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It is about that time of year again! It always seems to creep up on us faster than we would like. The days are getting shorter, colder and sometimes more expensive. However, they don’t have to be as expensive this year. There are a few things you can do this winter to cut your energy costs.

  1. Unplug everything

Don’t leave your electronics on standby or plugged in. You can not only cut your energy bill this winter, but all year round by doing this.

  1. Heat the rooms you use

Close off, or even seal, the vents in the rooms you do not use.

  1. Minimize the use of a few things

Try cutting down on the time you use things everyday such as hairdryers, kettles, and irons.

  1. Get a humidifier

Moist air feels warmer as well as holds heat better.

  1. Bundle up

Instead of increasing the temperature on your thermostat, increase your layers! Wear a sweater and some fuzzy socks while walking around the house. Also add an area rug to insulate the floor in your living room.

  1. Only use exhaust fans when absolutely necessary

Exhaust fans pull the heat out of your home making your heater work harder.

  1. Use your ceiling fans

Switch the fans to move clockwise and set them on a low setting to push the hot air back down.

  1. Use the sun to your advantage

Open the curtains during the day and close them at night to trap that free heat inside your home

  1. Lower the temperature on your water heater

For every 10-degree reduction you save 3-5 percent in energy costs.

  1. Keep your furnace clean

Change your furnace filter clean and free of blockages. Check it every month!

These few tips seem obvious, however, most people just never get around to doing them once the winter months arrive. Make sure to utilize these few tips so that you won’t regret it when the bills roll in. Read more about cutting your energy cost here. Have fun and stay warm!

Tips To Strengthen Your Credit Score

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Tips To Strengthen Your Credit Score – This is always a tricky subject. Just for the simple fact that everyone’s situation is different. To help you out, here are a few tips from Bankrate that will help you move in the right direction…

Watch Your Credit Limit – A way to help strengthen your credit score is to keep the balances on your credit cards low. How much revolving credit you have vs. how much you’re actually using. According to Bankrate, the optimum is 10% or lower.

Reduce The Number Of Cards – This isn’t what you think! This means stop using all of your credit cards. Instead have one or two cards you use for everything. It may hurt your credit score to have a $50 balance on one card and a $30 balance on another. Instead, pay those off and keep to just a few main cards.

Good Debt vs. Bad Debt – Good debt is where you have a long history of repayment records, such as a car loan. Some try to get this removed from their credit report once they pay it off thinking it could be harmful to their score when in fact it can be great for their credit score.

Pulling Credit – When shopping for your next big purchase such as a home, car, etc, these lenders will need to pull your credit score to see what loan options you have. Try sticking to a short time frame when shopping around and pulling your credit score with different companies.

Pay Bills On Time – This might seem obvious but it’s even more important when you are trying to make a big purchase. If you are saving up for a home, don’t pass on paying that electric bill because you need that money for your down payment. Mistakes like this can change your credit score which can effect the purchase of your home.

Don’t Hint Risk – Missing payments or paying less on your credit card than you usually do can hint risk to your card issuer. Taking out cash advances or paying for a divorce attorney can do this as well. Although it doesn’t necessarily effect your credit score, it is still something you should avoid.

Stay Informed – Whether you are looking to make a big purchase or not, it’s still important to know where you stand on your credit report. However, don’t obsess over until the moment comes where you are ready to make that big purchase. Pay your bills on time, keep a low balance on your card and create some consistency. Feel free to monitor your score every four months or so to know where you stand.

With these tips in mind, strengthening your credit score will be an easier process! Do you have any tips to share? Comment to share with us!