1. Maintain
payments of debts on time
- Maintaining the payments of
your debts on time can significantly improve your Highmark credit score.
Set up automatic payments or reminders to ensure you never miss a due
date.
2. Maintain
healthy credit utilization
- Maintaining a healthy credit
utilization of your credit card will improve your Highmark credit score.
Ideally, try to keep your credit utilization below 30% and if your usage
is higher try to upgrade your maximum limit.
3. Avoid opening
too many new accounts
- Opening new credit accounts
can result in hard inquiries, which might slightly reduce your score. Only
apply for credit when necessary.
4. Keep old credit
facilities active
- Length of your credit facility improves your Highmark score effectively. Keeping older accounts open (even if
unused) can help lengthen your credit history and improve your score. So,
avoid foreclosure for any of your credit facilities.
5. Diversify
your credit mix
- Having a mix of credit types
(credit cards, secured loans, unsecured loan etc.) can positively impact
your Highmark credit score. However, only apply for those credit
facilities that are truly needed.
6. Check your
credit report for errors
- Review your Highmark credit
score regularly to identify any incorrect details that is reported in your
credit report. Dispute any errors 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.
