‘Money: It's Personal' — Maintaining a good credit score

SAN ANTONIO – Good credit scores help you secure loans with better interest rates to get a house or car or for other uses. And while there's no magic way to get a good credit score, there are some ways to get your number higher and maintain it.

First things first: The Consumer Financial Protection Bureau says you should ensure your loan payments are made on time. You can set up automatic payments or get reminders to keep you up to date. If you miss a payment, make sure to pay it as soon as possible and stay current.

Next, don't get to close to maxing out your credit limit. The CFPB says credit scoring models look at how close you are to reaching your limit, so keep your balance low.

Experts advise keeping your use of credit at no more than 30% of your total credit limit. Paying off your balance each month will help you maintain a better credit score.

Additionally, your score is based on your credit payment history. The CFPB says the more experience your credit report shows with paying loans on time, the more information lenders will have to determine if you're a good credit recipient.

If you apply for a lot of credit over a short period of time, the CFPB says, it may be a sign to lenders that your economic circumstances have changed negatively.

Remember to check your credit report and dispute any errors you may encounter.

For more information for the CFPB on maintaining a good credit score, click here.

“Money: It’s Personal” is a series on KSAT’s News at 9 that breaks down personal finance topics. If you have a suggestion or question on the types of topics you'd like us to explain, click here.

For more stories from KSAT's News at 9, visit KSAT.com/newsat9.

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