How to improve your credit score in 2023 – What should I do?

A man trying to improve his credit score

*Updated on January 31, 2023

Written by Trevor “Boom” H.

In life, buying a property will come to the minds of most. Here we will go over 3 ways you can improve your credit score and hopefully purchase your first home.

1. Be Punctual with Payments 

Sounds easy, right? I remember being a teenager with my first credit card. I think it was a Wal-Mart Visa with a 500 dollar limit. I remember always making a conscious effort to pay my balance off as soon as possible.

Why? Because I hated debt. I disliked owing people money. It wasn’t a matter of improving my credit. I simply didn’t enjoy the feeling of owing people money. I was 18 and not so business savvy at the time, so I didn’t think about credit, but I understood principles. 

Now, I use debt, borrowed money all the time. To invest in businesses, property, home renovations. I use debt to make money. But that’s a whole different story and topic.

So when you start out using credit or you’re 35 and irresponsible with borrowed money, don’t be. Especially if you want to buy a house one day or a car or a horse. If you are into that kind of thing. 

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2. Use your Iphone or Android plan

Yes, gaze at its beauty. How dramatic. Ok, back to business here. If you would like to further improve your credit score to buy a house, condo or any kind of real estate. In some cases, you can take your existing phone plan and add the payment history to your credit report. This could help huge!

Many people don’t realize the little things you can do right away to get you headed down the right direction. The direction of owning your first pad.  

Instead of only using your phone for fun, Facebook, Instagram, MakeDineroBaby, you can use it to help in the process. Most people think you just need a massive load of cash to buy a house, which is definity helpful by the way, but the main element you will need is credit.

But, yeah, if you are a baller with 500k in your account, I’m sure you could grab something nice without credit. Or that 500k could be a 25 percent down payment on a 2 million dollar property in New York City or Los Angeles or my number 1 choice, Miami.

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2. Pay your rent, even if your landlord sucks!

 Yep, many have heard this annoyingly demanding phrase perhaps once in their lifetime. “You gotta pay your rent.” Well, good news. If you do pay rent, on time, of course, you can in some cases attach your rent history to your credit score. 

Many leave home (Mommy and Daddy’s), at some point, and rent. Well, if your rent payments are under your name and not your parents’ name, you’re in luck. You can use the proof of payment and improve your credit score.

I never paid rent when I left home, but if I did, at 23 years old,  I never would have known that there were these methods that  could improve my finances. Here it comes, folks…

The Conclusion.

It may seem simple, but in life we get caught up with other responsibilities, we procrastinate or we are simply irresponsible. Well, make the time to improve your credit and be responsible. Trust me, you don’t want to be 40 and you don’t have the credit score to buy a property. 

Make the right moves as early as possible to avoid going to the Bank of Mom and Dad

I hope you enjoyed the read. Feel free to spread the article with friends and family, as it would be greatly appreciated. Cheers.

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