How To Improve Your Credit Score Next Year?

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New Year's Resolutions are full of unfulfilled promises


Do you have the same New Year's Resolution each year? Have you tried asking yourself why you are still unable to fulfill your New Year's Resolution?

There are two kinds of New Year's Resolutions: the attainable and the impossible. Maybe the reason why you have the same unfulfilled resolution each year is that it is unattainable or impossible. If we do not want the resolution's results badly enough, the goal will remain unattainable.


However, there is a New Year's Resolution that is possible and attainable. You can achieve it.


One of these attainable New Year resolutions is to have a financial goal in life. Here are some of the tips on how to have #financialgoals in life:



Pay bills on time

One of the easiest ways to reach your goal is to pay your bills on time. Improving your credit will improve attaining your financial goals not just this year but also for the rest of your life. Bill payments are an important part of your credit score and they can make or break both your credit score and credit record.

Consider applying for an automatic payment method where you can link your credit card or your bank directly to your bill provider. Beware that there is a possibility of an insufficient amount that can overdraft or refuse your payment so be sure your bank balance is sufficient to cover your automatic payments.

The safest way is by notifying or reminding yourself about the incoming due dates of your bills. Simply put it on your phone or on your calendar and set an alarm to it for you to be notified of the coming due dates. That way you can double check to make sure you have adequate funds.



Pay Credit Card Debt 

Pay your credit card debt on time if you want fewer headaches for this year. Credit card debts are a crucial part of your credit score.

You can pay your credit card debts before the due date of your statement period. You can pay in installments until you have fully paid your debt. By doing this, you will be able to avoid the burden of having problems with your credit card and can also maintain or improve your credit score.



Avoid Opening New Accounts

According to Shawn Lane, a consumer credit expert, opening new accounts create a series of hard inquiries that will drag down your credit score. How many points will depend on your credit history but it could impact your credit score.

Be mindful of when to open a new account. Only open a new account when it is important or necessary to your financial goal and will not adversely affect your credit score.



Check Your Credit Report Regularly

Check your credit report regularly to know how you are controlling your spending. It will also reveal ways on how to improve your credit score.

You can check your credit report by enrolling in any credit monitoring subscription. With this, you can review and address some issues that you see in your report. One that we know is good and is attached to a legitimate credit repair service is