So, what can good credit do for you? Having good credit can make it a lot easier to do things that you never guessed would require a credit check – like land a job or find a place to live.
If you use the tips below, you could build the credit you need to help you get the loan you were looking for and probably at a much more reasonable rate than if you had bad credit or no credit history at all.
Good credit really starts with YOU. And you can start working towards that today! Here are our best tips on using a Green Dot® Platinum Visa® Secured Credit Card in the most effective way to boost your credit score.
1. USE LESS THAN 30% OF YOUR CREDIT
One of the biggest things to avoid is maxing out your credit card. Most would recommend keeping your card balance or “credit utilization” below 30% of your credit limit, which is a good number if you’re looking to build credit.
2. NEVER MAKE LATE OR MISSED PAYMENTS
Avoid, AVOID, AVOID late or missed payments.
A large portion of your credit score is based on your payment history. Paying late or missing a payment can be VERY bad for your credit, so be sure to always make your payments on time.
3. PAY MORE THAN THE MINIMUM
Always pay your balance off in full whenever you can and try to make it a habit. If you can’t pay your balance off in full, you should still try to pay as much of it as possible so that you’re not stuck carrying a large balance around from month to month which will negatively impact your credit score.
BUILDING CREDIT TAKES TIME…
Building credit doesn’t happen overnight. Take advantage of these tips, keep using your secured credit card responsibly, and be patient. You could build a strong credit history before you know it!
Interested in getting a secured credit card? See if you pre-qualify for a Green Dot Platinum Visa today!
©2016 Green Dot Corporation. Green Dot Platinum card is issued by Green Dot Bank, Member FDIC. Green Dot Bank also operates as GoBank and Bonneville Bank. The Visa Card is issued by Green Dot Bank pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association.