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To improve a Highmark credit score, you must follow some steps of making a series of consistent, positive financial decisions. Here are the steps you should take:
1. Make payments
due amounts on time
- Try to pay due amounts on time,
as paying due amounts can significantly improve your Highmark credit
score. Set up automatic payments or reminders to ensure you never miss a
due date.
2. Maintain
credit utilization
- Maintaining a minimum credit
utilization of your credit card can improve your Highmark credit score. Try to keep your credit utilization below 30%of your maximum usage limit and
if your usage is higher try to upgrade your maximum limit.
3. Avoid new
credit applications
- Opening new credit facilities can result in hard inquiries, which can reduce your score. Only apply for credit facility when needed.
4. Keep old credit
facilities active
- Length of your credit facility improves
your Highmark score effectively. Keeping older accounts open helps to
lengthen your credit history and improve your score. So, try to avoid
foreclosure for any of your credit facilities belongs from past.
5. Diversify
your credit mix
- Having a mix of credit types
(credit cards, secured loans, unsecured loans etc.) can improve your Highmark
credit score, never depend on a single type of loan. However, only apply
for those credit facilities that are truly needed.
6. Check your
credit report for errors
- Check your Highmark credit
score regularly to find out any incorrect details that is reported in your
credit report. Dispute any mistakes you find to ensure they’re not
negatively affecting your credit score.
7. Pay off debt
accounts
- If you have any accounts in
collections, paying them off fully can help raise your score. Make sure
the creditor removes any negative remarks after payment.
Improvement
takes time, but staying consistent with these steps will gradually help boost
your score. It’s also important to regularly monitor your credit to track
progress and ensure no new issues arise.
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