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But maintaining a high credit score isnt always easy.
Nearly 30% of Americans have a credit score thats poor or fair, according to Experian.
If youre one of them, your bank may be able to help.
Here are six tools your financial institution may provide tohelp improve your credit score.
Thats problematic since you should probably understand a problem before you might fix it.
Some banks offer free tools for customers to track their credit without impacting their scores.
Keeping an eye on your score will help you notice and resolve credit issues faster.
It could also help you stay on track financially by keeping you aware of whats going on.
Take Advantage of Free Online Resources
Many banks publish free financial resources on their websites.
These can help you build or maintain credit in various ways.
For example, a banks blog may contain articles on credit improvement.
Some banks also share financial calculators.
You may also have access to free budgeting tools in your banks mobile app.
Your bank probably has alert systems in place that will make this easier to do.
Avoiding tough situations like this will keep you financially healthy enough to focus on building credit.
And your bank probably offers everything you should probably do it for free.
If your institution has a physical branch data pipe, consider stopping by sometime.
You could talk to a banker about your personal financial situation and how youd like to improve it.
Consider a Secured Credit Card
Your bank may also offersecured credit cards.
These can be a fantastic way to start rebuilding your credit after a tough financial stretch.
They can also be helpful for people just beginning their credit journeys.
Secured cards are backed by a cash deposit youll have to make.
Its a tool that virtually anyone can use to get their score back on track.
For instance, there aresome checking accountsthat will automatically report rent and utility payments to the credit bureaus.
That way, you benefit from making on-time payments without having to do any extra work.
You may also use the same bank as amore financially established family member.
If so, look into joint account options.
For instance, your parents might be able to add you to their credit card as an authorized user.
This could help you improve your score faster without taking any additional steps.
At the end of the day, you should use whatevertools and resourceswork best for you.
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