3 Easy Ways to Improve Your Credit
Whether you're hoping to buy a home, take out a loan, or just get a new apartment, your credit is going to play a role.
Want to ensure your credit is at its best? Take these steps:
- Check your credit report for errors. If you find any, alert the credit bureau.
- Become an authorized user on someone else's credit card. As long as they pay on time, every time, your score will get a boost.
- Request a credit line increase (but don't use it). This lowers your credit utilization rate, which increases your score.
You should also pay down your debts. The lower your balances are, the better your score will be.
How to Pay Off Your Mortgage Faster
Tired of that monthly mortgage payment? You might be able to get rid of it quicker than you think.
Here's how:
- Make biweekly payments instead of monthly ones. This reduces your principal balance quicker (and reduces the total interest you pay over time).
- Put any windfalls you get toward your loan balance. That means tax refunds, holiday bonuses, and more.
- Make one extra payment per year. Commit to making just one extra monthly payment, and you could have your load paid off years early.
If you get a raise or start earning more, consider making higher mortgage payments, too. Even $50 more per month can mean significant savings over time.
 Brent Sheppard
MaxWell Capital Realty
6204B Burbank Road SE, Calgary, AB T2H 2C2
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