Spring cleaning for your credit
(ARA) - Spring is a time of renewal and rejuvenation, when many people focus on getting their homes cleaned up and ready for the warmer months ahead. It is also a great time to get your finances - including your credit - in order.
Experian has developed four tips to help you spring clean your credit:
- Know your report and your score.
You can get your credit report at www.experian.com. Purchasing a scored report will help you identify the factors in your report that are most influencing your credit risk. - Pay your bills on time.
- Start paying off your credit card debt and leave the account open.
Paying down debts and paying off credit cards is always good for your credit, but closing a credit account could have a negative impact on your credit scores, at least for a short time. - Use credit wisely.
Once you've paid down your debts, continue to use your credit cards and pay the bills on time each month, and keep your balances low.
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