“New year, new you,” doesn’t just apply to your wellness goals. You can also work on your financial fitness. In our last video we talked about the factors used to determine your credit score. Today, we’re sharing tips for caring for your credit score.

First, paying your bills early or on time will help improve your credit score. Early repayment of any loans that you take out will also raise your score.

If you do have to take out loans, only borrow what you need. Moderate borrowing will reflect well on your credit. The financial calculator at Arvest.com can help you evaluate borrowing decisions.

Limiting the number of credit cards that you have and/or apply for will also help boost your score. Too much credit card debt can damage your score.

Banks look at all of these aspects before deciding whether or not to approve loans, so taking care of your credit now will pay off in the long run. For part three of our “Understanding Your Credit” series, we’ll discuss credit score ranges and more.

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