Ask the Experts
How to Improve Credit Score
May 14, 2021
Video Time: 00:51 | Views: 45
A poor credit score can prevent you from buying a house, getting a loan, opening new credit cards, and more. PenFed wants to help you avoid that. Wealth Program Manager Matthew Doyal shares what you can do to make that score soar.
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Here's how you improve your credit score.
First, set up automatic payments on
all your credit account, so not
just your credit cards but your mortgage,
your store cards, your
Make sure it's an automatic payment every
month so that you never miss it.
You don't think about it, and
it's a great way to avoid stress.
Second, dispute any
in accuracies on your credit report.
So, the first thing you need to
know is annually pull your
credit report and know exactly what's on
it, and if there's anything
that doesn't belong.
You want to make sure you're disputing it.
And then the third one,
and very important is to consolidate.
Take those high interest credit cards,
into a personal loan at
much lower interest
with fixed principle and
interest payments so that you can
pay off your debts faster.