Bad Credit Boot Camp

An OppLoans Guide to Understanding Your Credit, Credit Report, and Credit Score.


Chapter 4. Building and maintaining a (healthy!) relationship with credit

You might not have the best credit score right now, but credit is forever. It follows you from cradle to grave, and because it’s a lifelong commitment, there will be ample opportunities throughout the years for you to either make or break your score, which can make or break the kind of life you want to lead. Follow all the tips we laid out in this booklet, and you’ll be well on your way to a credit score you can be proud of. Maintaining a good credit score is always easier than fixing a bad score.

To keep your relationship with credit healthy and strong, remember these key things:

  • Monitor your spending
  • Keep track of your credit score
  • Pay bills and loans on time
  • Keep your credit utilization ratio under 30 percent
  • Save money in an emergency fund
  • Try and pay off your credit card balances in full every month
  • Keep a schedule of due dates and set up autopay
  • Make sure your contact information is updated
  • Talk to a credit counselor if you’re in over your head

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