3 ways to improve credit score

Your credit score affects you more than you think — especially when it's time to get approved on exciting life milestones, like buying a car or home. Lenders look at your score to determine your creditworthiness, or how good you are at handling your financial obligations. It’s how they determine how big a mortgage or loan (or how high a credit card limit) to offer you and at what interest rate. Having a low score could result in getting approved at higher interest rates — or even being declined. Many landlords look at your score when considering renting to you, and some employers are even requesting info on your credit score before making you a job offer. A few different factors make up your score, with payment history, utilization ratio, and length of credit topping the list, followed by types of credit and inquiries. Whether your score is stellar or needs some TLC, there are some easy ways to improve it and ultimately rule it. Here are 3 ways to get you started: Nail your utilization ratio Your utilization ratio is how much of your available credit you’re using, or your level of indebtedness. For example, if your credit card

Mogo Presents: Holler For Your Dollar’s 5 Steps to a Rocking Credit Score

Did you know that one of the sexiest holidays of the year happens today? It’s** “Get Smart About Credit Day”**! Excited yet? If not, get ready! Mogo has arranged free access to Holler For Your Dollar’s “5 Steps to a Rocking Credit Score” video. Enjoy! Mogo Presents: Holler For Your Dollar’s 5 Steps to a Rocking Credit Score. *Guest writer: Chantel Chapman* If you thought report cards stopped after graduation- you are wrong. There is another little report card that follows us around into adulthood called the Credit Bureau. And on this credit bureau is your credit score. Your credit score is your financial reputation based on a scoring system. Much like life, if you have a good rep, you’ll be presented with more invites and opportunities. Think of it like this: If you’re late all the time and never answer you friends’ text messages, eventually people won’t want you around. Your credit reputation is the same — if you don’t pay your bills on time or incur more debt than you can handle, your credit score will drop (along with all future opportunities, making car leases/ mortgages/ rental properties increasingly harder to attain)