Tips To Bump Up Your Credit Score By Dec 2019

By Kishore Sabareeshan | August 26, 2019

You’ve got four months to the end of the year. Can you manage to bump up your Credit Score to the next level by then? Read on to find out.

Tips To Bump Up Your Credit Score by Dec 2019

If your New Year resolution was to improve your Credit Score by the end of 2019, you may not be alone. However, resolutions are typically forgotten once we get past January! Now that you’re already in the eighth month of the year, it’s a fair time to check if your Credit Score is growing as planned. If not, don’t lose heart; with a few smart tips, you can still wrap up 2019 on a good note. How? Based on your current scenario, follow any of the expert tips below:

Get A New Credit Card

If your Credit Score hasn’t really changed much since the beginning of the year, it’s probably because nothing exciting is happening in your portfolio. This can be a good time to go in for a Credit Card. Not only will it add another account to your credit history, which is great, but it’ll also give you a chance to boost your Credit Score by simply managing your new card well for the next few months.

Additional Reading: A Brief History Of Credit Scores

Pay More Than Your Minimum Due

Sure, you may have been paying your Credit Card bills on the dot, but are you just paying the minimum monthly due amount? If you can afford to pay back more and slowly clear your dues, your Credit Score is sure to shine and sparkle. Nothing pleases your Credit Score more than sizeable repayments.

Limit Your Credit Usage

Another reason your Credit Score may have not grown is that you’ve been a little liberal with your Credit Card usage. Remember that just because you may have a generous credit limit, it doesn’t mean you go crazy swiping. Exercise restraint and try and restrict your credit usage to below 40% of your allowed credit limit

Additional Reading: All About Your Credit Score

Refrain From Applying For Credit More Than Once

Every time you apply for a Credit Card or loan, the lenders run a hard enquiry on your profile. Unlike soft enquiries such as you checking your Experian Credit Score for FREE on our website, lender enquiries are hard enquiries that can impact your Credit Score, so if you don’t want to see your Credit Score take a hit, try not to apply for credit this year. If you want to bump up your Credit Score with a Credit Card, go ahead and apply for that, but ensure you don’t follow that up with a Personal Loan or Home Loan application. That can wait.

Read Your Credit Report

One of the simplest practices to follow, starting today, is to go through your FREE credit report. Not only will it give you useful insights on anything that needs your attention, but you’ll also be able to identify and rectify errors if any. Safe to say that reading your report is surely going to help with that boost you’ve been wishing for.

Additional Reading: Why You Should Read Your Credit Report

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