Whether you got your credit cards on your college campus, went shopping too many times or suffered from the bad economy, you’ve probably damaged your credit. Luckily, there are some things you can do to make things better. Here are just a few of the ways you can do that.

If you’re credit needs some work, first you should make a plan you can stick with, and then follow through. Unfortunately, the way that you approach spending money will probably have to be revamped. Only purchase something if you cannot live without it. Before purchasing an item, ask yourself if it is absolutely necessary and well within your financial means. If you cannot answer each of these in the affirmative, do not buy the item.

Pay down the balance on any credit card that is 50% or more of the credit limit. You should keep your balances under fifty percent; anything over this and you can lower your credit rating, so spread out the money you own and pay down your credit cards.

You may be able to reduce interest rates by maintaining a favorable credit rating. A lower interest rate means lower monthly payments, and less time paying off your debt. Asking for a better deal from your debtors can help you get out of debt and back to achieving a better credit score.

Good credit scores mean you can easily qualify for a home or car loan. Keeping up with all of your mortgage payments will help pull your credit score even higher. Owning a home shows financial stability, which is great for your credit. This will also be useful in the event that you end up needing to borrow funds.

Installment Account

Think about getting an installment account to save money and improve your credit score. With an installment account there is a monthly minimum you need to keep, so only open an affordable account. Your credit score will significantly get better if you get an account.

Don’t get involved in anything that could get you arrested. The web is full of scams that show you how you can craft a deceptive credit file. These scams are not legal and there will be repercussions. Taking these short cuts will end up costing you money and could lead to a stay in jail.

With some hard work and guidance, you can easily fix your damaged credit and help receive the rating that you deserve. Use the information in this article to boost your credit score.