13 Feb 2018

Habits To Cultivate for Maintaining a Good Credit Score

Credit Score Online

While most people have heard about the importance of having a good credit score, there is still confusion about what can be done to improve and maintain a good score. Here are some simple tips to follow, that over time, can become money-smart habits to ensure your credit score works in your favour. Where do you start?

Check your credit score on a regular basis

You can request a copy of your free credit report once every 12 months from credit reporting authorities like Equifax or try getcreditscore.com. Knowing your credit score in the first place will give you an idea of what to work towards. This also gives you an opportunity to review the credit inquiries on your application and ask for corrections if you see anything incorrect that could be affecting your score.

Make repayments on time

As simple as it may sound, this is an important rule to follow. Always pay your debts on time, be it mortgage repayments, credit card balances, utility bills and any other bills. Failure to make payments can be recorded on your credit report.

Take on less credit

Stop applying for new credit cards or loans too often unless absolutely needed. Every application for credit is another entry on your credit report and negatively impacts your credit score. Different types of credit applications are recorded differently, for example a payday loan could is looked at less favourably than applying to a bank for a loan.

Avoid overdrawing on credit cards

Regularly overdrawing on your credit cards could be taken as a sign that you can’t manage your debt and are living beyond your means. This is important to keep in mind when you’re thinking of applying for important credit in the future like a mortgage or personal loan as this will reflect on your file and affect your creditworthiness and borrowing power.  


An essential part of getting your personal finances in order is to know your credit score. By understanding how your credit file affects your credit score and impacts your ability to borrow money, you can make better financial decisions and aim to maintain and improve your credit score.

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