Count Your Pennies: How To Raise Your Credit Score

Good credit is what every adult strives for but it is very difficult to obtain with student loan debt.  While it seems as though student loans put you in a negative place post graduation, there are many ways to improve your credit score for the future.  A good credit score will be used to make major purchases (you first house maybe?), decrease insurance rates and other financial savings perks.  Here are the Grown Up Truth tips to increasing your credit and getting on step closer to financial freedom.

  1. Get A Credit Card 
    I know, the thought of actually getting a credit card is daunting as it represents a daunting financial task.  But you need to get one as soon as possible.  Once you have a credit card, you can start obtaining credit, good or bad.
  2. Buy Simple Purchases
    Start using your new credit card for simple and routine purchases.  Gas fill ups, grocery shopping, monthly water bill – all of these purchases are small and you can easily pay them off.  Using your credit card shows that you are a habitual spender (This is good!)
  3. Pay Off Your Card Each Month 
    This is the most important step.  Add a calendar reminder on your phone for the day your credit card payment is due and pay off the whole statement.  Your consist payments will prove that you can be trusted with future financial loans and obligations.
  4. Don’t Stress
    Life is too short to stress over your financial situation.  Remember that regardless of your credit score, you will be fine.  Just work to make it better each day by making smart financial decisions.  It is all about the small wins!
  5. Any Further Questions?
    Check out this video by Go Banking Rates that describes your credit score!  Also make sure to look at their other financial understanding videos.

Author: Lexi Butler

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