GreenPath’s Chris Dlugozima sat down with WNBC’s Finance Reporter Lynda Baquero to talk about effective ways to monitor and improve credit score.

1. Check your score before applying for credit. “I always stress the time to check your credit report is when you don’t think you need it,” said Dlugozima. He further said that one in four consumers have mistakes on their credit report.
2. Pay on time (or within 30 days). “If you pay late, it’s on your report for seven years,” Dlugozima said. “But once a couple of years have passed, the impact of late payments won’t be felt as much.”
3. Keep debt-to-credit ratio low. 30 percent of your credit score is how much credit you are using. “Ideally, you want to use less than one-third of your available credit.”
4. Apply strategically if you are shopping for a loan. “The more hard inquries on your report, the more points you lose. This can be avoided if you apply for credit in a short period of time.”

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