7.
Get an installment loan
to get the best credit scores including revolving accounts (credit cards, lines of credit) and installment accounts (auto loans,personal loans, mortgages).
8.
Use revolving accounts lightly but regularly
you have to have had credit for at least 6 months, with at least one of your accounts updated in the past 6 months.
Using your cards regularly should ensure that your report is updated regularly. It also will keep the lenders interested in you as a customer. If you get a credit card and never use it.The issue could cancel the account.
“Pay on Time-Wipe Out Debt, Raise credit Score”
If you don’t like what you see, can you improve your score?Yes. Fortunately, scoring models put more emphasis on the present than the past. So with every bill you pay on time and every debt you wipe out, your score will rise.
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