How to Maintain a Good Credit Score

If you follow me on Instagram, you know that a passion of mine is talking to you about my experiences with credit including fixing it once I ruined it, and how I have been able to leverage my good credit to create the life I want for my family. For what it’s worth,  having credit is a great thing if you know how to manage it, and a huge part of managing your credit is knowing how to maintain your good credit score once you’ve achieved it. I’ve shared with you the things I did to repair my credit, and it took me a lot of hard work to get my credit score over 750. Now, I want to share a few simple things I make sure I do consistently to maintain my good credit score.

1.   Pay all your bills on time, without exception.

Did you know that your on-time payment history is the most important component of your credit score?  That’s right! If you want to maintain a good credit score, you should know that just making your minimum payments, on time, can make you or break you. If you need to track your creditors to make sure you cover each month’s minimum payments, know that Lexington Law Firm offers packages that can meet anyone’s needs. They even have an app that puts the credit information you need at your fingertips. That way, you can see all creditors and make sure you include them when you pay your bills.

 2.   Keep all of your old accounts open, even if they’re paid off.

The age of your credit accounts—or the length of time you’ve been with your creditors— also has a major bearing on maintaining a good credit score. Remember that having credit is not a bad thing, you just have to know how to manage it and make it work for you. The longer you keep your credit accounts, and keep them in good standing, the higher they boost your credit score. Keep in mind you want to make sure you also keep the balances low. One thing I like to do is use a card to pay my normal gas and grocery bills (that I know I’d be spending money on anyway since they’re necessities) and just pay it off immediately. Using this method has allowed me to establish creditworthiness by keeping my accounts open and the balances low, boosting my credit score over time!

3. Sign up for credit monitoring that will alert you of immediate changes to your credit report.

One of the best things you can do to maintain a good credit score is to always make sure you are abreast of anything and everything going on with your credit, especially if there’s an error. Something that may seem as small as an incorrectly documented late 

payment on your credit report can have a major impact. Did you know that late payments can stay on your credit report for up to 7 years? That is major! Lexington Law Firm believes that you have a right to an accurate credit report, so signing up for credit monitoring is a sure way to empower yourself with the knowledge you need to manage what’s going on with your credit!

I hope these tips inspire you to continue on your journey of getting your credit where you want it to be, or maintaining the improved credit you’ve achieved. You owe it to yourself to live the life you’ve dreamed of!