SEVERE WX : Flood Warning View Alerts
CLOSINGS: View Closings

My Money Monday, Feb. 5: Raising your credit score

Here are some tips that could help you.

Posted: Jun. 20, 2018 2:03 PM

Topic: Improving your credit score
Link: https://www.firstalliancecu.com/blog/how-do-i-improve-my-credit-score

Q: You hear a lot of talk about credit scores, what’s the fastest way to improve your score?

A: At First Alliance, we are asked this question a lot. Unfortunately, there is no quick way to fix a credit score, it definitely takes time. The best advice we give our members is to make your payments on time each month. This is critical. Timely payments are a big factor in improving your credit score.

Q: What are some other factors that impact your credit score?

A: The number of loans and credit cards you have opened are another important factor to pay attention to. Too much debt can negatively impact your score. So, avoid taking on credit that you don’t need, like store credit cards. While the discounts can be great, there is really no need to have multiple balances on multiple credit cards. One or two credit cards are all you really need.

Q: How often should you be reviewing your credit report?

A: You should be checking your credit report and make sure the information is accurate annually. You are legally allowed to do this for free once per year. We always recommend using the website AnnualCreditReport.com. You’re looking to make sure that there are no errors, that the balances are correct, and that the credit accounts that you have on your report are actually yours. This also helps detect identity theft.

Article Comments

Mason City
Overcast
41° wxIcon
Hi: 53° Lo: 38°
Feels Like: 41°
Albert Lea
Overcast
43° wxIcon
Hi: 51° Lo: 37°
Feels Like: 40°
Austin
Overcast
43° wxIcon
Hi: 52° Lo: 38°
Feels Like: 43°
Charles City
Overcast
43° wxIcon
Hi: 54° Lo: 39°
Feels Like: 39°
Rochester
Overcast
38° wxIcon
Hi: 48° Lo: 36°
Feels Like: 33°
Clouds and light rain will continue to fill in tonight, making for a soggy Sunday.
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

BRACKET CRUSHED

Image

Stretch Your Inch

Image

BULLS DEFEAT BLIZZARD

Image

NCAA WRESTLING CHAMPS

Image

TROJANS FOREVER

Image

Tracking Sunday Morning Rain

Image

Tracking Rain Showers Moving In

Image

Free speech on college campuses

Image

Tracking Our Lovely Weekend Start and A Few Drops of Rain

Image

Car fire in Rochester

Community Events