Harvard FCU Blog

Boosting Your Credit Score: Tips and Tricks to Get There

Written by Harvard FCU | Mar 14, 2025 10:04:06 PM

A high credit score can help you save money and reach your financial goals. If you’re ready to understand why credit matters, plus pick up a few tips and tricks on boosting your credit score—keep reading! 

The Importance of Good Credit 

Financial products tend to be higher quality, simpler to obtain and cheaper when you have good credit. This is because financial institutions look at your credit score to help gauge credit worthiness. Your credit score can influence everything from securing a lower-interest personal loan, to qualifying for a home mortgage, to getting a credit card with the best rewards, to renting an apartment.  

Boosting Your Credit Score 

As with most financial challenges, there is no “quick fix” when it comes to boosting your credit score. At the same time, there are a few tips and tricks which can help you to improve your credit score over time: 

  • Make payments on time. Being delinquent on loan or credit card payments will negatively affect your credit score in as little as thirty days, and result in late fees and interest. Moreover, the longer you leave a missed payment hanging, the more severe the impact on your credit score. 
  • Pay credit card balances in full. Whenever possible, don’t just make the minimum credit card payment. Instead, pay off your entire statement balance in full, before the due date. This keeps your credit utilization low and limits or eliminates your interest owed. 
  • Review your credit report. Harvard FCU online banking now offers free access to Savvy Money, where members can access their credit score and full credit report for free. Use this tool to track your score, and if you see any inaccuracies, file a dispute using the “Dispute” link in the app. 
  • Understand your credit utilization ratio. Boosting your credit score takes education. Use a tool like Savvy Money to see your credit limit and how much of that limit you’re using. Aim for a 30% or lower credit utilization ratio, to keep your credit score as high as possible.  
  • Pay off high-interest debt. There’s no two ways about it: the more debt you carry, the lower your credit score. Build a household budget and prioritize paying down high-interest debt as soon as possible. Refinancing, loan consolidation and 0% interest credit cards can help.  
  • Don’t close accounts. The longer your credit history, the higher your credit score. Therefore, it’s usually in your best interest to avoid closing credit accounts. If you have a credit card you no longer wish to use, pay it off in full and cut up the card, but consider keeping the account open (depending on annual fees).  
  • Look at secured loans. Secured loans are an option to establish or re-establish good credit. Harvard FCU has a variety of secured loan options with low fixed interest rates and plenty of member support, so you know exactly how the loan works and how it can support your credit. 

Final Thoughts 

Boosting your credit score is about making smart financial choices, but it’s also about educating yourself as to how credit words. Check out the Harvard FCU blog for all things credit, and get in touch with a counselor through the GreenPath Financial Wellness Program if you need more support understanding your credit report and developing a plan to boost your credit.