Having bad credit can be really frustrating. Not only you are unable to avail good credit cards, you are also deprived of excellent services. To help you in building credit, here is our guide on how you can improve credit using Citibank credit card.
In case your credit card application is rejected, you can try a secured credit card. By using this you can build your credit every month. Paying off your balances timely and keeping low utilisation can also help. Besides these, there are more ways to improve credit. It depends on your approach as in how much time you can improve your credit score. The best way to build credit is by using your credit card account regularly.
Below is a hierarchy of steps you can follow to improve your credit score:
• Timely payments: Making timely payments is the sign of maturity your provider needs. It shows that you are responsible and can be trusted. Using the amount below 30% and its timely payment is very beneficial for your credit score. Try to pay before the deadline in order to avoid interest.
• Don’t close previous cards: Having a credit card even if it is not used can help in building credit. Don’t close such accounts. This method is slower in comparison to others. Using a little bit amount and paying timely can improve the speed of this method.
• Avoid too many applications: If your credit card application is rejected, don’t try too much. This can badly affect your credit report. Doing research before applying can help you a lot. Consider what your need is and check if your credit score allows you to buy that or not. In case of bad or low credit score, choosing a secured credit card is the best option.
• Check credit report: If you are following every step mentioned above and credit is still low. This can be because of your late bill payments. Pay them on time as they also affect your credit report.
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