Having a bad credit score is just not an option when you want to buy a car, get a credit card or purchase a new home. It means that you will get the worst interest rates or will not be financed at all. We all make mistakes, and recognizing that is the first step to improving your credit score. Here are six tips to get you on the right path to re-establishing your credit.

1) Always pay your bills on time. Although the payment of your utility bills, such as phone, cable and electricity, is not recorded in your credit report, some cell phone companies may report late payments to the credit-reporting agencies, which could affect your score.

2) Try to pay your bills in full by the due date. If you can’t do this, pay at least the required minimum amount shown on your monthly credit card statement.

3) Try to pay your debts off in their entirety as quickly as possible.

4) Don’t go over the credit limit on your credit card. Try to keep your balance well below the limit. The higher your balance, the more impact it has on your credit score.

5) Reduce the number of credit applications you make. If too many potential lenders ask about your credit in a short period of time, this may have a negative effect on your score. However, your score does not change when you ask for information about your own credit report.

6) Make sure you have a credit history. You may have a low score because you do not have a record of owing money and paying it back. You can build a credit history by using a credit card.

These tips are required to improve and maintain a great credit score. However, it will take time and effort to see a reasonable change. For those who want to buy a new home or car within the next few years, PersonalBanker has a program designed especially for you.

Our Credit Boost / Repair program will help you improve your credit score quickly. We have partnered with a reputable credit repair company to get you on the path to success fast.

Individual attention from one of our consultants to help you manage your finances will put you on the fast track. To learn more about our Credit Boost / Repair program, contact us today!