Credit can be confusing. People looking for answers to even their most basic credit questions often face long explanations. So we thought we would make it easier, and wrote the five most important credit rules each of us should follow โ on a Post-it note:
- Pay your bills on time.
- Donโt rack up too much credit card debt.
- Donโt cancel old credit cards unless you need to.
- Donโt apply for too many credit cards.
- Check your credit frequently for mistakes.
There you have it. Thereโs obviously more you can and should do, and there are always extenuating circumstances, but following these rules will get you 90% of the way there. The hard part is doing each of the five items above when things get tough โ because one way or another, they always do.
You can use a free tool like Credit.comโs free Credit Report Card for a clear overview of the information in your credit report. If something seems amiss, you can do a deeper dive. Youโre entitled to obtain a free credit report from each of the major credit bureaus every year.
You Might Also Like
June 14, 2023
Credit 101
January 25, 2022
Credit 101
February 19, 2021
Credit 101