Theme Layout

Boxed or Wide or Framed

[Framed]

Theme Translation

Display Featured Slider

Featured Slider Styles

[Boxedwidth]

Display Grid Slider

Grid Slider Styles

Display Trending Posts

No

Display Author Bio

Display Instagram Footer

Tips to Improve Your Credit Score ~ #NFPartner #ProudToServe


When I was a college student I didn't have a care in the world about what my credit score was. They handed credit cards out like candy and I accepted them. I still lived with my parents and there was nothing to worry about. However, I had to grow up eventually. It wasn't until I decided to move out on my own that I really took charge of my credit, and I have to admit that it was bad!

This is a sponsored post written by me on behalf of Navy Federal Credit Union. All opinions are 100% mine.

I had no idea that my credit score was used for so many things. After all when you're getting those credit cards on campus, they don't tell you to be careful. They just want you to sign up. I had no idea that I needed to have good credit in order to rent an apartment, get my utilities turned on and so much more. Fast forward to when it was time to purchase my first home. Even though I was in the military and I didn't need a very high credit score to get a loan, due to my military benefits, it was a good idea to have a score as high as possible in order to get the best loan available. Today I want to share how you can improve your credit score using a few tips that I personally used on my way to financial freedom.


What you can do now! 

Check your credit report
This is your first step. You can order a free online report and check for errors. You may be surprised at what's on your report that you quite possibly had no idea about. Be sure that the accounts are yours, however make sure that the amounts are correct and there are no incorrect late payments. If you find errors, dispute them with the credit bureau. Know that it's perfectly ok to ask for and check your own credit report.

What you do after!

Reduce the debt you owe
Limit the use of your credit cards now! Come up with a budget that will enable you to pay off the cards with the highest amount or highest interest first, while paying minimum payments on the smaller accounts.

Keep your balances low
High balances can affect your credit score so try and keep your balance as low as possible. A rule of thumb is only to use 30% of your balance. Carrying a high balance can be seen as a risk and may be an indication that you are having financial difficulty (although this may not be the case), and may lower your credit score. Navy Federal gives you the option to keep track of your credit score, and it's also available on the go via their mobile app as well.

Use payment reminders
Late payments can put a ding on your credit score. Use any available means to make sure that payments are made on time. If you can, enroll in automatic payments that will be debited from your bank account so that you won't have to worry about missing a payment. The longer you pay your bills on time, the better your credit score will be.

Apply for new credit only if needed
Don't go around applying for lots of cards or loans. However, opening a new account and using the above tips such as paying responsibly and on time will help improve your credit score in the long run. If your credit is very poor, you may consider applying for a secured credit card. A secured card requires you to make a cash deposit which then becomes your line of credit. For example if you open an account with $1,000, you now have a secured credit card that you can charge up to $1,000.

I remember when I first joined the military, as I mentioned my credit wasn't great. I became a member of Navy Federal Credit Union and applied for a secured credit card which helped to improve my credit immensely.


Why choose Navy Federal? 
Navy Federal offers card options to help build or even restore your credit.

Remember, there is no fast way to repair your credit. It all takes time and you have to be responsible. Learn more about how you can improve your personal finances at MakingCents, Navy Federal’s online resource for financial education.


Visit Sponsors Site

Annmarie John
15 Comments
Share :

15 comments:

  1. I think it so wrong how they do college students. I went through the same thing when I was in college. This post is very informative.

    ReplyDelete
  2. Wonderful tips! My son is just beginning his trip to financial freedom and even though I have explained most of this to him I am going to have him read it as well. I secured credit card sounds like a very good option for him.

    ReplyDelete
  3. GREAT advice! Spending responsibly is imperative in today’s world. Love your tips, great advice for everyone, especially timely with the holidays. It’s so easy to overspend.

    ReplyDelete
  4. Great tips, I could really do with them! Especially this time of year!

    ReplyDelete
  5. Yeah I knew nothing in college about credit...I just new it was good to have a credit card for emergencies. Because I had no credit, my credit limit was $500. Then my two front tires on my car blew out driving back home from college and I had to use all $500 to buy new tires. That was a big life lesson right there! Also no one ever told me not to just make the minimum payment until a few years later when I kept thinking...geez why can't I get this credit card paid off. LOL! Thankfully at 36 years of age, my credit score is in the high 800s.

    ReplyDelete
  6. We really need to pay attention with our credit score it really has a great impact with our daily life. I have to say that we must be responsible with using our credit cards and buy only the things that is needed.

    ReplyDelete
  7. I am currently doing all these to improve my credit. Credit cards are evil! I am a member of a credit union, but this one isn't in my area.

    ReplyDelete
  8. I had no idea they offered credit cards to college students! That isn't the norm here so I am quite surprised.

    ReplyDelete
  9. at one time or another we all need to use this information. thanks for sharing!

    ReplyDelete
  10. Thank you for these great points. They educate the consumer! I’ve used some of these suggestions before and it helped my credit score improve. 👍🏼

    ReplyDelete
  11. It is so important to remember to check your credit score. I have been trying to teach my teenagers about credit scores and how to build it. I will have to share this with them.

    ReplyDelete
  12. These are great tips for new credit card holders...an even the veteran ones too. Maintaining a good/great credit score is so important.

    ReplyDelete
  13. This is such an excellent tips for those who wants to get a new credit card. and I think I needed this. I will share this with my twins.

    ReplyDelete
  14. Such a timely post, especially at this time of year when we tend to overspend! We do our best to keep our credit score healthy. It is a lot of sacrifice but it does pay off in the end.

    ReplyDelete
  15. What an awesome post and this is really helpful to me, as i am a new credit card holder glad that you share this tips.

    ReplyDelete

[name=AnnMarie John] [img=https://3.bp.blogspot.com/-X9gUeVik-ZY/WJjwNTOobII/AAAAAAABTJ4/qEhU0n62_AIo-j6-6LA2OFOr44lKCHASwCLcB/s100/AnnMarie%2BJohn%2BHeadshot.JPG] [description=AnnMarie John is a lifestyle blogger, mom of 4, retired army veteran and a huge Disney lover. Formerly from the beautiful island of St. Vincent and the Grenadines in the Caribbean and now living in colorful Colorado, she loves sharing her opinions on everything, crafting and food.] (facebook=http://www.facebook.com/theannmariejohn) (instagram=http://www.instagram.com/theannmariejohn) (twitter=http://www.twitter.com/theannmariejohn) (pinterest=http://www.pinterest.com/theannmariejohn) (email=mailto:annmarie@annmariejohn.com)

Follow @TheAnnMarieJohn