If you want to improve your financial life, here are some tips.
The Mad Capitalist.
A great way to build a credit score is to responsibly use a credit card. After all, they don't have to be a financial trap, but allies.
Using a credit card frequently and making your payments on time will be seen as a good sign for the credit bureaus, who will build your score.
Additionally, some credit cards offer benefits, perks, and rewards that can optimize your money.
• Keep your credit card usage limit low; • Don't miss payment dates; • After a while, ask to increase your limit, but keep your usage low.
Best practices to improve your credit score:
Explanation of the last topic: when you have a high limit but keep your utilization low, your credit utilization rate improves with your financial institution's reporting to the credit bureaus.
Another important tip to increase your credit score is to understand how institutions perform the calculations. To help you, we prepared an article, check it out!