Credit score secrets nobody tells you

There's no doubt that having a good credit score does wonders for your financial wellness and plans for the future. This is why many of us are dedicated to constantly working on our credit score and making sure it's as high as possible. Some of us may already have reached our goal and now want to push ourselves a little further to guarantee long-term financial security.

If this sounds like you, then consider these "credit score secrets" – things nobody really talks about, but probably should because it can take your finances to the next level!

These tips are great if you’re already in the habit of paying your debts on time and you’re disciplined enough to not overspend on credit. If you're not quite yet on a firm financial footing, see these secrets as something to work towards. Part of your journey to financial freedom is having little goals like these that will mark your progress and keep you motivated.

Let's have a look.

Automate payments

Do you often forget to make your payments? Yes, life gets busy, but unfortunately forgetting to make your credit payments can lower your credit score quickly. The solution? Automate your payments for your credit accounts. You can have your payments deducted from your bank account via debit order on a date that works for you.
Close your balance each month

Get into the habit of paying each account in full each month to avoid carrying over that balance to the following month. Start by prioritising your credit card and other accounts when you budget. Managing your balance helps keep your credit utilisation low. Knowing that your bills are covered gives you some peace of mind. Give it a try. You might surprise yourself!
Keep good standing accounts open

You may be tempted to close all accounts when improving your credit score, but one of the things that helps your credit score is the age of your accounts, in particular, those accounts that are in good standing. Try to use these accounts at least twice a year so that the credit provider does not close them due to inactivity.
Paying your revolving debts makes a big difference

Revolving debts usually have a higher interest rate and the minimum payment on these accounts is determined by the amount that you owe. Paying these down means that you pay less interest. So, it makes sense not to neglect these.