Tips for Maintaining Healthy Credit
Once you have fixed your credit, there are several actions you can take to maintain your healthy credit. By continuing to keep your credit status strong, you will have more opportunities for low-interest rates on loan and credit card approvals.
Limit the number of hard inquiries: Soft inquiries don’t impact your credit, like when you check on your own credit score. Hard inquiries can affect your score — and occur when you apply for a loan or new credit card. Too many hard inquiries in a short period of time, such as a couple of months, can make you seem riskier and, therefore, can negatively impact your score.
Set up auto-payments: Whether you’re paying the full balance or making a minimum payment, make sure your payments are on time. Log in online to your credit card, loan, and utility accounts to set up automatic payments. This ensures you pay on time and gives you one less thing to worry about.
Keep old accounts open: Even if you don’t use a certain credit card very often but have had the account open for a while, do not close it. Older accounts show that you have maintained a healthy payment history with creditors — making you appear more creditworthy.
Aim for a mix: Maintaining a mix of different types of credit can give your score a boost, such as paying on a car loan, credit card, and mortgage all at once. Just be sure you can make timely payments before opening new accounts or borrowing additional money.
Monitor your credit report: Review your credit report at least twice a year to ensure there are no additional errors. If you find something wrong on your credit report dispute it. If you have already disputed it and no actions have been taken, you may contact our firm to help you fix your credit report problems.