September 2018

Need to improve your credit score?

If you're planning to buy or refinance a home this fall or winter, now's the time to think about your credit score — especially before you launch into the holiday spending season. The higher your score, the more likely that you'll qualify for a competitive interest rate.

Follow these steps to help get — and keep — your credit score up.


Check your credit report.
Your report helps determine your credit score, so make sure you don't have any errors or issues. Bank of America credit card clients can get a free monthly FICO® Score without dinging their credit report.Footnote1


Pay bills on time.
You may want to set up email or mobile alerts to remind you when a payment is due.


Keep account balances low.
A good rule of thumb: Keep the total of your monthly debt payments (excluding a mortgage if you are a homeowner) below 20% of your monthly income.Footnote2


Understand how to use your credit limit.
Make it a habit to use 30% or less of your available credit line — one of the easiest ways to boost your score.Footnote3

For more information on bumping up your credit score, check out the Better Money Habits® graphic "Tips to rebuild your credit."

2"Understanding and improving your credit score,"
3"Understanding your credit limit and how to use it,"

1FICO® Score Program. The FICO® Score Program is for educational purposes and for your non-commercial, personal use. This benefit is available only for primary cardholders with an open and active consumer credit card account who have a FICO® Score available. The feature is accessible through Online Banking, the Mobile website, and the Mobile Banking app for iPhone and Android devices. Your FICO® Score is based on data from TransUnion® and may be different from other credit scores. Your FICO® Score is created using Fair Isaac Corporation's proprietary model and is solely determined by the information in your file at TransUnion at the time your FICO® Score is calculated. Bank of America and other lenders may use other credit scores and additional information to make credit decisions. TransUnion and Fair Isaac are third parties not affiliated with Bank of America and Bank of America makes no representation or warranty related to the FICO® Score. FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. Requesting your FICO® Score as a part of the FICO® Score Program will not negatively impact your score. Bank of America and Fair Isaac Corporation are not credit repair organizations as defined under federal or state law, including the Credit Repair Organizations Act. Bank of America and Fair Isaac Corporation do not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. Data connection required. Wireless carrier fees may apply. Bank of America credit cards are issued and administered by Bank of America, N.A. Better Money Habits, Merrill Lynch, U.S. Trust, Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation. All other company and product names and logos are the property of their respective owners.

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