Raise your credit score with these tips

Having good credit can help you get better rates on car loans, mortgage loans and determines whether landlords will rent to you. These strategies can help you boost your score, but make sure you are diligent about paying back loans and paying of credit card purchases.

• Open a credit card
• Opening a credit card might seem like a bad idea. However, it can be the opposite if you use it right. If you carry a low balance and pay your card off each month it will help raise your credit score.
• Be smart about what credit cards you apply for
• Only apply for a credit card one at a time. Each time you apply a hard inquiry is run on your credit report. This can have a negative effect on your score.
• Use your card for day to day expenses
• Use your card for things like gas and groceries. Make sure to pay it off at the end of each month to help you stay on top of charges. If you have a rewards card you will see the points rack up.
• Pay your balance right away
• Only you can keep your debt under control. If you use your card as a short-term loan that must be repaid immediately you will avoid the interest charges.
• Keep up with using your card
• Keep using your card occasionally for purchases. It's important to have an active credit history to bring up your score. The rule of thumb is to use the card every six months and pay it off.
• Consider a loan
  • If you don't want to use a credit card, another way to build credit is to open a loan. Loans are great for unexpected purchases or to book a vacation. Make sure you treat the loan the same as a credit card and make on-time payments to pay back the loan.

Apply for a DECU credit card or loan.