How do I build and maintain good credit?

Building and maintaining good credit is essential for your financial health. Here are some tips to help you build and maintain good credit:

1. Pay your bills on time: Your payment history accounts for about 35% of your credit score, so it's crucial to pay your bills on time.

2. Keep your credit utilization low: Your credit utilization ratio is the amount of credit you use compared to your credit limit. It's recommended to keep your credit utilization below 30% to maintain good credit.

3. Use credit responsibly: Don't apply for too many credit accounts at once, and don't use credit to buy things you can't afford.

4. Check your credit report regularly: Check your credit report at least once a year to make sure there are no errors or fraudulent accounts.

5. Keep old accounts open: Your credit score is also based on the length of your credit history. So, keeping old accounts open can help improve your credit score.

6. Diversify your credit mix: Having a mix of credit accounts (credit cards, auto loans, mortgage) can also help improve your credit score.

7. Seek professional help: If you're struggling with your credit, consider reaching out to a credit counselor who can provide personalized guidance and help you develop a plan to improve your credit.