Quick Strategies to Improve Your Credit Score 

• Reduce Credit Utilization – Your credit utilization ratio (how much credit you use compared to your limit) makes up 30% of your score. Keep balances below 30% of your credit limit, and ideally below 10% for the best impact. 

• Pay Down Balances Strategically – Instead of spreading payments across multiple accounts, focus on paying off high-interest debt first while making at least the minimum payment on all other accounts. 

• Become an Authorized User – If you have a trusted family member with a well-managed credit card, becoming an authorized user on their account can add their positive payment history to your credit profile. 

• Make On-Time Payments – Payment history is the largest factor in your credit score. Set up autopay or reminders to ensure all bills are paid on time. 

Credit Myths That Could Hurt You 

• Closing Old Accounts Helps Your Score – Actually, closing accounts reduces your total available credit, which can increase your credit utilization and lower your score. 

• Checking Your Credit Hurts Your Score – Checking your own credit score (soft inquiry) does NOT impact your score.  

How Your Employee Homeownership Program Can Help 

Not sure where to start? Your Employee Homeownership Program offers a free Financial Fitness Consultation to help you: 

✔ Understand where your credit stands and what mortgage options are available to you. 
✔ Identify specific ways to improve your credit before applying. 
✔ Get pre-approved with your employee homeownership program approved lender who can guide you through the best loan programs for your situation.