A: There are a number of things you can do to improve your credit score, including:
- Pay your bills on time, every time.
- Keep your credit utilization low.
- Don’t open too many new credit accounts in a short period of time.
- Dispute any errors on your credit report.
- Build your credit history by using a credit card or getting a loan and making regular payments.
Q: What is the debt-to-income ratio?
A: The debt-to-income ratio is a measure of how much of your monthly income is spent on debt payments. Lenders use the debt-to-income ratio to assess your ability to repay a loan. A high debt-to-income ratio can make it difficult to qualify for a loan or get a good interest rate.
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