SEVERE WX : Flood Warning View Alerts

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

Here are some tips that could help you.

Posted: Feb 5, 2018 1:22 PM
Updated: 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
Clear
72° wxIcon
Hi: 74° Lo: 56°
Feels Like: 72°
Albert Lea
Clear
66° wxIcon
Hi: 70° Lo: 57°
Feels Like: 66°
Austin
Scattered Clouds
66° wxIcon
Hi: 73° Lo: 57°
Feels Like: 66°
Charles City
Clear
66° wxIcon
Hi: 70° Lo: 55°
Feels Like: 66°
Rochester
Overcast
62° wxIcon
Hi: 65° Lo: 54°
Feels Like: 62°
Showers coming back for the work week.
KIMT Radar
KIMT Eye in the sky

Latest Video

Storm Team 3: After heavy rain this weekend, more is on the way

Image

Ride to Fight Suicide hopes to prevent suicide

Image

Bridgeport Marina Projects looks to make Albert Lea safer

Image

Famous potato raises money for Rochester Flyers

Image

Dog attack in Mason City

Image

Mason City man attacked by dog

Image

SX Weather Cutin June 15

Image

Cutin June 15

Storm Team 3: Severe storms possible this afternoon and evening

Image

Williamson heads to Mariners

Community Events