It’s easy to tell when your credit is doing badly. Perhaps you’ve had some late payments, or your debt became so overwhelming you had to seek a credit repair service, or request debt relief. But how can you be sure if it’s doing well? There are a few telltale signs that consistently appear if you’ve been doing the right things.
If you’ve been paying your payments on time, keeping a low balance, and not overspending, chances are you may just be doing great. Here are the signs that you’ve been doing a fantastic job.
Your Score Has Increased
Doing a check on your credit score once a month can reveal whether your credit score is doing well or not. If you see that it is slowly increasing, then this means you are absolutely doing a great job.
A good score is considered 700 and higher. So if you see your number starting to rise towards that range then you can be sure that this is a fantastic sign that your credit is doing well! You can give yourself a big pat on the back and soak it up.
You Are Approved For Higher Credit Limits
If your credit card has recently been given an increase, that means that you have proven that you are good for your word and worthy of an increase because of it. It’s in their interest to give you more credit as long as they know you will pay it back, so by showing you’re a responsible credit card owner you will always be rewarded.
If you are applying for new loans or lines of credit and find yourself getting approved that means that you are definitely doing a great job at paying things off.
You’re Receiving A Lot of Offers From New Credit Cards
Do you find yourself receiving a lot of offers by email or in the mail for new credit cards promising low-interest rates and 0% APR? This is because you are now a desirable client. That’s right, they are watching and they want people who are going to pay them back.
Make sure that even though it may seem tempting to accept the offers, you keep in mind that it’s probably not necessary. Remember that not spending beyond your means is the key to keeping your credit score nice and high.
You Hardly Have Any Balance Due
If you are keeping your balance due at a low number, preferably 30% of your total credit allowance or lower, that is a good sign that your credit score is probably glittering.
A low balance is one of the best things you can do to ensure you have a favorable credit score.