Being a fellow millennial, I know just how hard it is to try and raise your credit score. It’s hard because personal finance tips and tricks are not really taught to us in school. It’s up to us to search for this info ourselves and try to reclaim the mistakes we made when we were younger. But don’t you worry, it’s not too late, check out these easy tips and see how millennials can improve their credit score.

 Automate All of Your Payments

The easiest thing you can do for yourself and take the stress out of building your credit is to automate ALL of your payments. When banks see you’re making consecutive payments on time, it looks really good on your credit report, increasing your score. On the flip side, missing a payment can lower your credit score. It can be a hassle to pick yourself back up from that ding in your credit report so just go the easier route and automate your payments.

Related: Save Money On Credit Card Purchases!

Keep Your Debt-to-Credit Ratio Low

It’s hard I know, believe me, I applied for a Best Buy credit card when I was 18 while I was employed there. Having my employee discount, as well as no interest financing, raised my debt-to-credit ratio and hurt my score and it was a long road to come back from that. Basically, banks measure the amount of debt you used vs. the amount of debt you’re allowed to take out. So be mindful of your limits and don’t max out your credit cards. When you’re applying for any type of loan or credit, banks want to know you have the self-discipline to manage the money they’ll lend to you.

Increase Your Credit Card Limit

A simple way on how millennials can improve their credit score is to increase your credit card limit. Doing this improves your debt-to-credit ratio that we mentioned above. If you’ve been paying your credit cards off on time, you shouldn’t have a problem asking your credit card company for an increase. Just be careful not to spend it.

Monitor Your Current Credit

If you’re serious about maintaining a good credit score, practice monitoring your report often to ensure nothing is bringing down your score. You never know, someone may have opened a line of credit under your name when you were a baby. I’ve actually seen it before. Check out Credit Karma to check your report for free! If there is a red flag on your report, be sure to contact one of the major credit reporting agencies to get things fixed.  They even provide you with a free credit report every 12 months!

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Partner with a Cosigner on a Loan

Obtaining credit can be hard, especially if you made some choices that hurt your score in the past. If you have a family member, partner, friend, of dog that is willing to cosign, you have a chance to rebuild your credit and be approved with a better interest rate. A word of caution, your cosigner’s credit can be affected if you are unable to manage your loan so be careful.

Don’t Open Credit Cards Before Applying for a Loan

Going back to keeping your debt-to-credit ratio low, if you know you are about to apply for a loan, don’t open any new credit cards. Try to keep your recent credit activity clean before you apply for a loan.

Don’t Open Credit Cards Often

How can millennials improve their credit score? I’ll tell you this much, opening one credit card after another is not the way. Applying for too many credit cards all the time will look bad on your credit report – not to mention it could get you in trouble with payments, even if it’s not on purpose.

Consolidate Credit Card Accounts if You Have Too Many

Having too many credit cards is also a bad thing, just ask my 18-year-old self. If you have a bunch of credit cards you’re not using, it’s time to consolidate and close the cards you don’t need. You should always have one account with a major credit card company so if you can easily consolidate to those accounts.

Follow these easy tips and you’ll raise your credit score in no time. For even more help, check out when WalletGyde goes live and start saving to pay off your credit cards!