There are many benefits to having a great credit score. For instance, you can get access to rewards credit cards, better insurance rates, and cheaper loans. Apart from the traditional tips like paying your bills on time, and not applying to multiple credit cards at once, there are other less-known ways in which you can boost your credit score. Check them out below: 

1) Get a Secured Credit Card

Getting and using a credit card is one of the fastest ways to increase your credit score. If you have a low score, it might be a good idea for you to get a secured card since they are easier for you to get approved. To get ahold of this type of credit, you will need to make a secured deposit, which will be your credit limit that you’ll be allowed to use.

2) Pay Your Card Twice a Month

Did you know that one of the biggest factors that interfere with your credit is the utilization ratio? So let’s say you make a big purchase like an appliance for your home on your credit card, this can potentially lower your score because you’ll have a small available limit. Therefore, it might be a good idea to make two monthly payments, one of them being two weeks before the closing date, and then another payment just before the closing date. 

3) Keep a Good Mix of Credit

Lenders and credit card companies take a risk by lending money to people. Having said that, they often want to evaluate how you deal with a good variety of loans and credit cards. So if you have the means to pay, and you find a good interest rate, it might be a good idea to buy a car or a house, for example. 

4) See If You Can Increase Your Credit

Another way to keep your credit utilization ratio low is to request an increase to your credit limit. However, you should use this tip with caution, as depending on your circumstances, it might not be a good idea to increase your limit.

5) Don’t Close Unused Credit Card 

Contrary to common belief, closing unused credit card accounts is not good for your credit. The reason why is that you’ll have less available credit, making it more likely for you to keep your utilization ratio high. Another reason for this is that your length of credit history could be harmed.