10 Good Credit Habits Every Renter Should Have
A higher credit or FICO score means you may be able to borrow money at a lower interest rate, which means more money in your pocket in the long run. Follow these tips to develop good credit habits—and improve your credit score.
1. Check your credit report and correct errors
2. Pay bills on time
3. Get caught up on missed payments
4. Pay down debt rather than moving it around
5. Contact your creditors if you're falling behind
6. Pay more than the minimum to minimize interest charges
7. Maintain old accounts to keep your long credit history
8. Use different types of credit
9. Keep balances low
10. Pay your rent on time
*Apply for and open new credit accounts only as needed.
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This has been a quick tip by LandlordBreakup.com, the website for smart renters. If you're a renter who is curious about how you can turn your rent payment into a mortgage payment, check out our home buying course and home ownership plan for renters. Check out the course.