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Five Wise Credit Resolution for 2015

By admin
Published: Thursday, January 15th, 2015

2015 is here, and it is time to say goodbye to the mistakes you made last year. To move on, you need to make the most out of the free credit report offered by the credit companies. Set new goals this year and make a new beginning to improve your credit health.

Saying “I want to have a good credit history” is not enough. You need to be ready to take the right steps towards it. You can begin by taking small steps towards a specific resolution and after achieving it, head towards larger ones. Here are five resolutions we suggest for you:

  1. Check Your Credit History Regularly

This may not be the most exciting resolution, but doing this will only benefit you. It teaches you what actions can affect your credit score adversely and what steps can help you improve it. At the same time, it can help you detect a fraudulent activity and get the culprit caught in time. Besides, lenders report to the bureau once a month and so checking up your credit score regularly will help you sort out any discrepancies before it is too late.

To do this, you will need a free copy of your credit report, which is available at You can get three copies a year, so try not to pull out all three unless you are checking up your credit history. Spread out the request to once in four months.

  1. Complain About Errors

As soon as you identify an error, get it right immediately. Ignoring it will affect the credit score negatively. Synchronize the report with the errors and gather all the proof to support your claim. Once sorted, the bureau will report to you.

  1. Minimize Using the Credit Card

Using the credit until you reach the max limit is not a good idea! It will only kill your credit score, especially if you default on paying back. Lenders will look at it negatively. This is why they divide the total balance or total credit with the total year credit limit to assess liability.

  1. Pay Bills on Time

Delaying paybacks is a bad thing! It will only attract an interest on the payments and lead you to more debt. At the same time, you will end with a bad credit score and history that will have a negative impact on the future when you may need a mortgage.

  1. Save it for Emergencies

Using it only when there is an emergency is the wisest thing to do. You never know when you may need a loan, and having a credit card can be the best way to find instant financial assistance.

Make sure you stick to these five credit resolutions in 2015.


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