How to boost your credit score

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Here are a few credit-related habits to help you improve your credit score:

Do: Keep your balances manageable and under your credit limit.

Don’t: Exceed the limits on your credit card accounts.

Do: Make your credit payments on time every month, including loans, utilities and mortgage payments.

Don’t: Miss a credit payment or fail to pay at least the minimum amount due.

Do: Keep credit accounts that you’ve historically paid on time.

Don’t: Apply for a lot of credit accounts in a short period of time.

Do: Check your credit report once a year for accuracy.

Don’t: File for bankruptcy or get your credit account turned over to a collection agency.

Source: myFICO.com

Avoiding late payments
Set up payment reminders with your accounts so you never accidentally miss a due date

What does your credit score say to lenders?*

>700
Anything above 700 is more attractive to lenders.

<620
Anything under 620 could make it harder to get a mortgage.

Exceptional
(800–850)

Very good
(740–799)

Good
(670–739)

Fair
(580–669)

Poor
(300–579)

*These are general estimates of categories. Different lenders may have different standards for categories.

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The material provided on this website is for informational use only and is not intended for financial or investment advice. Bank of America and/or its affiliates, and Khan Academy, assume no liability for any loss or damage resulting from one’s reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment options.

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