Need some motivation to stay updated about your Credit Score? Here are some ways you can make checking your Credit Score so much fun!
While there’s absolutely no doubt that you should take your Credit Score seriously, you can always have fun in the way you approach it. When it comes to certain aspects of life, like finance, we tend to assume that everything will and should be dull and mundane.
Well, we’re here to prove that wrong – here are some super-fun ways to make monitoring your Credit Score a whole lot of fun!
Bored of checking your Credit Score by yourself? Talk to your friends and propose a competition – whoever improves their Credit Score by most points in the next 2-3 months wins! Choose whatever incentive works for all of you – now that sounds like fun, right? This way, you not only get to improve your Credit Score but also stand a chance of a free dinner or whatever’s at stake… ha!
Celebrate Small Milestones
Any improvement in your Credit Score is great, so celebrate! Think of your Credit Score as a game; the more your score, the better it is for you. Set targets for say a six-month period, but also break them down to monthly targets so you’ll not only be on track but will have more reasons to celebrate!
Additional Reading: All About Your Credit Score
Think Of Your Credit Report As A Set Of Cheat Codes
Those of us who have grown up playing computer games can instantly recall the term ‘cheat codes’. These were codes that we could use to unlock extra powers and features in a game. Think of your credit report as something that contains cool cheat codes that can help you ramp up your Credit Score; the only difference is you’re not cheating here… you’re just playing smart.
The useful insights in your FREE credit report will help you not only address the elements that are hurting your Credit Score but also show you what you’re doing right – now who wouldn’t want that, right?
Additional Reading: Things You Should Know Before Checking Your Credit Score
Also, tracking your Credit Score regularly will go a long way in helping you time your Personal Loan, Home Loan or Credit Card application because the better your score, the more chances of your credit application getting approved – it’s that simple!
Additionally, a Credit Score of 700 or more usually opens you up to some exciting deals; so that’s another reason to stay updated.
Additional Reading: A Brief History Of Credit Scores
Think Of Credit Report Errors As Your Arch Nemesis
Assume the position of a hero on a mission to eliminate any errors on your credit report. With practice, you’ll become a pro at not only identifying errors, if any, but also getting them rectified, thus protecting your sacred Credit Score.
While we’re talking games, here are some special powers that you can pick up on your quest to a dream Credit Score. The below powers are special, but remember to use them responsibly!
The Ideal Credit Utilisation Ratio
Try and stay within 40% of your credit limit; this is surely going to help you get to the next level.
Diversity Is Great
Going forward, remember to mix up your credit portfolio with different kinds of credit. Lenders love this!
Play It Cool
Remember to keep a cool head at all times. For instance, don’t apply for too much credit – each application invites a hard enquiry, and that could hurt your Credit Score. Also, don’t worry if you have an error in your report, you can always get it rectified provided you spot it at the right time.