Boosting your credit score during inflation

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With inflation soaring, it can be tough to build your credit. Our Let Joe Know team has some tips for how you can boost your credit score. abc15

When you have a good credit score, you can get better terms and lower interest rates on credit cards and loans that you may have.

But Jill Gonzalez, a Wallethub analyst, says credit scores are increasingly impacting other aspects of life. "Some jobs are pulling credit scores as part of a background check... when you rent, a lot of people are pulling your credit score," Gonzalez explained.Paying your bills on time is number one. If you're 30 days late or more, it can harm your credit. Also, try using less than 30% of your overall available credit limit.One of the least risky and lower-cost options are secured cards.

Depending on your situation, building or rebuilding credit can take six to 18 months. Gonzalez warns, if an option promises a fast fix, it's likely too good to be true.

 

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Correction: With CORPORATE GREED soaring. Has any of your journalists ever read a business financial filing?

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