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Simple Ways to Improve Your Credit Score

Following these simple tips may help you to boost your credit score, take control of your finances and overall help you make more informed financial decisions. Why not start today?

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Credit Card
Every financial institutions issuer has different credit card eligibility criteria. Flickr

Your credit score is really important. Not only does it affect your ability to take out loans such as mortgages, it affects pretty much anything you want to pay for monthly, too.  

Yet many of us are not clear on how our credit score is calculated and how we can improve it.

Firstly, what is a credit score?

According to ClearScore, a “credit score is a 3 digit number that shows you how likely you are to be accepted for credit”. It looks at how well you’ve managed money in the past, to understand how reliable you are when it comes to paying money back. You will then be ‘scored’ on your trustworthiness.

Companies use your score to decide whether they will give you a loan, credit card or other finance deal. If your score is less than perfect, you are more likely to be rejected or be forced to pay the highest interest rates.

If you’re conscious that you need to give your credit rating a boost, here are some simple ways to do so.

Register to vote

If you’re not currently on the electoral register, then sign up. It’s much harder to be accepted for any type of credit if you’re not on it. You can do this quickly and easily on the government website.

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Here’s a snapshot of how you can pay your credit card bills with ease.

Pay bills on time

To improve your credit score, make sure you pay all your bills on time. Even missing a payment once could have a big impact on your rating. If you think you’re likely to forget or slip up, set up direct debits. That way, the money will automatically go out, so your payments will always be on time.

Use a credit card

Credit cards can be a great tool for boosting your credit score, but only if you use them wisely. If you purchase with your credit card and pay it off regularly, this will improve your credit score, as it shows you can be trusted to pay the money back.

Don’t buy more than you can realistically afford and not pay it off — this will negatively impact your rating.

Also Read- Democracy Gone to Dogs?

Don’t apply for multiple cards at the same time — lots of hard credit checks will negatively impact your rating.

Don’t link to someone with poor credit

Avoid setting up a joint bank account, joint mortgage or any other joint financial product with someone who has a poor credit score. If you do, their poor credit rating can be assessed alongside yours, even if it’s only you that’s taking out the loan or product. Keep your finances separate.

Following these simple tips may help you to boost your credit score, take control of your finances and overall help you make more informed financial decisions. Why not start today?

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Facebook to Ban Ads that Urge People Not to Vote Ahead of 2020 US Presidential Election

The new initiative builds on the work Facebook has done over the past year to prevent voter suppression

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"We're continuing to work to make ads more transparent and easier for you to control," Thulasi added. Pixabay

In a bid to maintain the elections’ integrity, Facebook is set to ban ads that urge people not to vote ahead of the 2020 US Presidential election, according to its annual civil rights audit released on Sunday.

Following the 2016 US Presidential election, Facebook faced flak for failure to stop those who used the platform to spread misinformation. Some even published ads telling people not to vote in 2016.

“To protect elections, we have a team across product, engineering, data science, policy, legal and operations dedicated full time to these efforts,” Facebook’s Chief Operating Officer Sheryl Sandberg said in a blog post announcing the report.

“They’re already working to ban ads that discourage people from voting, and we expect to finalize a new policy and its enforcement before the 2019 gubernatorial elections,” she added.

Facebook, Ads, Vote
In a bid to maintain the elections’ integrity, Facebook is set to ban ads that urge people not to vote. Pixabay

The new initiative builds on the work Facebook has done over the past year to prevent voter suppression.

“This is a direct response to the types of ads we saw on Facebook in 2016,” Sandberg said.

“Just as civil rights groups helped us better prepare for the 2018 elections, their guidance has been key as we prepare for the 2020 Census and upcoming elections around the world,” she added. (IANS)