(Tip 4) Take Advantage of a Score-booting Program

It is always handy to remember that the number and average age of your accounts are equally important factors in helping lenders determine how well you handle debt. Thus, not understanding this will lead those with a limited credit history at a disadvantage. Experts recommend Experian Boost and UltraFICO programs that allow consumers to boost a thin credit profile with other financial information.

After opting into Experian Boost, you can connect your online banking data and allow the credit bureau add telecommunications and utility payment history to your report. UltraFICO, on the other hand, allows you to give permission for your banking data, such as your savings and checking accounts, to be measured alongside your report when calculating your score.