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A credit score is a three-digit number, typically between 300 and 850, designed to reflect the likelihood you will pay your bills on time. Credit scores are calculated using information from your credit reports, which contain your payment history, if you have any debt, and the length of your credit history. So how do you maintain a good credit score once you have started building one? 

Pay bills on time, every time 

Your payment history is always going to be a big part of keeping your credit score in a good place. If you have trouble keeping your bills in order and staying organized with payments, set up automatic payments using online banking! This is the perfect resource to not only have to remember what needs to be paid, but when to pay as well.  

Avoid applying for new credit whenever possible 

Each time you apply for credit it prompts a hard inquiry into your report, and your score will take a hit. Unless it’s truly needed, avoid applying for new credit cards or loans, except when necessary if you want to keep your score up. 

Always keep an eye on your credit report 

We are human, and errors happen! It’s important to keep an eye on your credit report because errors are more common than you might think. Luckily, you can check your credit report from each of these credit reporting agencies: Experian, TransUnion and Equifax. You can receive one free copy of your credit report every 12 months from each of these agencies here. 

When you get the reports, review them carefully to look for any errors and for any signs of identity theft. Dispute errors that you find right away. 

“I don’t use this credit card anymore, why keep it?” 

Keeping old credit cards open can benefit your credit score because of the length of the credit history. The more experience your credit report shows with paying your bills on time, the more information there is to prove you are a good credit recipient.  

Live within your credit and don’t exceed your limit 

If you have a credit card with a $1,000 limit and you already have a $500 balance, it’s best to start paying off this balance now. Experts advise keeping your use of credit no more than at a 30 percent of your total credit limit. You certainly do not have to rely on credit cards to get a good score. Paying off your balances each month will also help you keep the best scores. 

There are plenty of healthy habits you can adopt to maintain and even improve your credit score.  Just always remember keeping a good credit score is important, especially when you’re ready to inquire for new credit!