Summer is here and the temperatures are rising high. With summer, comes:
- Vacations, nationally and internationally
- Events such as home purchases, weddings, new additions to the family
- Other expenses- expected and unexpected
Ultimately, creating the need for extra money and access to credit. Often times we don’t think about these things until we have a need or a want. When that need or want comes, how will you pay for it? With cash, borrow from friends or family, borrow from the bank, or use an existing line of credit, credit card, or high interest borrowing method?
No one wants to deplete their savings or cash they have worked hard for. But not everyone has access to credit or can get approved for credit. Here are some ways to increase your credit score this summer:
- Pay down any existing credit lines, loans, and/or credit cards
- Use a credit card to make your everyday purchases and pay it off using the money you would have used or before the next statement cycle.
- Check your credit score often; there maybe items on your credit that have been paid, aren’t yours, in collections, or could be older than 7-10 years.
- If it is determined that there are things on your credit report that aren’t yours, you can file a dispute; if it is something from collections, connect with the creditor or collections agency and setup a payment plan or negotiate a discounted rate to pay them.
In conclusion, following these steps can help you increase your credit but aren’t 100% full proof. It may also be valuable to seek a reputable credit counseling service from the National Foundation for Credit Counseling.
Whether you need help with getting a personal loan or improving your credit score, contact Queensborough National Bank and Trust today. Let us help you take full advantage of our cash management solutions.
By Tamika Moss, Queensborough Customer Service Representative