A Few Tips to Help You Grow You Credit Score in 2019

If you want to grow your credit score in 2019, follow these tips.

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How can you grow your credit score in 2019? Here are a few tips that will help.

First, shoot for perfection! In terms of a perfect credit score, the magic number is 850. Not everyone is able to achieve this mark (the ratio is roughly one out of every 200), but it’s still a good goal to have.

If you want to be more realistic, you can shoot for a score of 750 or higher. Meeting this benchmark opens up many possibilities for you as well. For one thing, you’ll get a better interest rate, so you’ll save a lot of money over the life of your loan.

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35% of your credit score is determined by how timely your payments are.

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Next, set up automatic payments for yourself. Approximately 35% of your credit score is determined by how timely your payments are, and a great way to ensure that your payments are consistently on time is to automate them.

Also, keep an eye on your credit limit. Maintaining a good credit score is a bit of a balancing act. For example, if you have a credit limit of $5,000, spending up to that limit will reflect poorly on your credit score. You should try to only spend 10% to 20% of your credit limit—that’s the sweet spot. Don’t spend 0%, either—a 0% balance can make credit rating agencies suspicious that you’re not using your credit responsibly.

If you’d like more tips about improving your credit score or you have any other real estate-related questions for me, don’t hesitate to reach out to me. I’d be glad to help you.