4 Things That May Help You Advance Your Credit Score

A man and woman smile while walking a dog on an outdoor path

 

 

Maybe you already know what a credit score is and how it may impact your financial health. If not, here's a quick explanation:  

If you've ever signed up for a credit card, purchased a cell phone and plan, paid a utility bill, purchased a car, or received a loan from another business, then you have established a credit score.

Your credit score is a numerical value that ranges from 300–850 and is based on factors such as any debt you already have, the length of your credit history, and the history of your payments. This score reflects how well you manage your debt and whether you pay your bills on time. For example: If you pay your bills by their due dates, you will earn a higher score. If you are late in paying your bills or don't pay them at all, you will accumulate a lower score. 

Ideally, you'd aim to have a high credit score. Why? Well, if you should need to purchase a car, a home, or borrow money from a lender to pay for a medical procedure without high interest rates or strict penalties, you'll need a good credit score. 

If you have a lower score or aren't sure what your score is, there are steps you may take to learn your score and raise it, if necessary, via your TransUnion CreditView Dashboard®.

What Is the TransUnion CreditView Dashboard®? 

There are three main credit bureaus who monitor credit for everyone with a credit history: TransUnion, Experian, and Equifax. 

All of our Pocket360Ⓡ customers automatically receive free access to their credit score via their TransUnion CreditView Dashboard®. This friendly solution enables you to gain insight into your overall credit performance and also offers free credit education, credit alerts, and a score simulator.

4 Ways to Use the TransUnion CreditView Dashboard® to Change Your Credit Score

If you checked your credit score and discovered it's on the lower end, don't worry. Of the nearly 3,500 TransUnion CreditView Dashboard® customers whose credit scores were "subprime" (meaning having a poor credit history), upwards of 60% were able to see a significant change in their scores in just eight months' time by using their personalized dashboard, according to a recent analysis by TransUnion.

By taking the following steps, you, too, may be well on your way to improving your credit score.  

  1. If you already have a loan or are interested in taking out a loan, navigate to Pocket360 and view the TransUnion CreditView Dashboard® or set up your free TransUnion account via the dashboard to view your credit score.
  2. Navigate to the Score Simulator within the TransUnion CreditView Dashboard®. Spend some time working your way through the "what if" variables of managing your credit score and make notes of the variables that change your score in the simulator.  
  3. Take steps to modify your credit score by incorporating the positive variable feedback like opting in to receiving free credit alerts, reading our free educational materials, and disputing any inaccuracies.
  4. Check back frequently to see how these little changes may add up to a better credit score and more financial health and security for you and your family!

Learn more about Pocket360 or the TransUnion CreditView Dashboard®.