Overcoming Roadblocks to Improve Your Credit Score: Expert Advice
Nearly 4 in 5 Americans are trying to improve their credit scores, but 50% face barriers, particularly due to low credit limits. A low credit limit can result in high credit utilization, which negatively impacts credit scores. Experts recommend asking for a credit limit increase, updating income information, and paying balances ahead of the statement closing date to improve credit utilization. Applying for a new card can also increase available credit, although it may temporarily lower the credit score. Despite record-high average credit scores, 58% of Americans worry about hurting their credit scores in the next year, likely due to concerns about financial difficulties and debt management.
