It’s downloaded more than one million times a day. It’s the most popular iPhone and Android game out there. It’s Angry Birds, and if you have a smartphone, chances are you’ve played it.
Here at Credit Karma, we love slinging birds at pigs as much as the next tech geek. In fact, we love it so much, that we’ve noticed some eerie similarities between the game and credit health. (Are you surprised?)
Let’s talk about some of the angry birds* you have in your brigade and how to unleash them with care upon your credit life.
Make on-time payments: Red bird
Whether you’re just starting off with your first credit card or you’ve been charging to your go-to credit card for the last decade, making on-time payments is a must. It’s the tried-and-true method to prove to lenders that you’re creditworthy. Making on-time payments is like your red starter bird: its trajectory is predictable and will always be there to help you.
Harness the power: Set up automatic payments or an email or mobile alert so that you never miss a payment for maximum credit health.
Increase your lines of credit: Blue birds
If you can responsibly manage credit and are looking to boost your credit health, add an additional credit card or other line of credit; it might be just what the credit doctor ordered. Just as the little blue angry bird multiplies into three blue birds to cause maximum damage, having another credit line can help you build credit by diversifying your credit types and increasing available credit.
Harness the power: You’ve got to know when to tap the angry blue bird for him to strike where it hurts. When opening a new credit card, choose the time that’s best for you, and choose the card that’s best suited to your credit profile by using Credit Karma’s new Approval Odds.
Pay off debt: Yellow bird
One of the most powerful weapons in your credit arsenal is paying down your debt. By paying off credit card debt you’ll reduce your credit utilization rate. Typically, the lower the credit utilization rate, the higher the credit score. Pay down your credit card debt to less than 30% of your available credit and you’ll see an increase in your credit score.
Harness the power: For credit health, you should maintain a credit utilization rate below 30%. Know your magic number by calculating 30% of your credit card limits, and set up credit card alerts so that you won’t exceed your limit. (Wells Fargo offers free credit card alerts.) When you start keeping your rate under 30%, you’ll see that credit score improve quickly, just like the speedy yellow bird quickly demolishes any wood in his path.
Clean up your credit report: Black bird
KABOOM! That’s the sound you’ll hear when angry black bird demolishes a little piggy. And what might you need to demolish in your credit life? Credit errors, outdated information, and inaccuracies. A recent study revealed that over 19% of examined credit reports contained errors. In other words, your credit might be tarnished by incorrectly reported information, the removal of which could quickly improve your credit.
Similar Posts:
- Affordable Health Insurance Plans at www.healthinsurancesort.com
- How Do I Earn 5% Back With Blue Cash from American Express?
- Good Credit Score But Denied Credit Card? Am I A Deadbeat? What To Do?
- Compare Car Insurance: JD Power Auto Insurance Rankings
- 10 Credit Score Facts and Fictions
Recent Comments