It’s time for a mid-year credit check-up

Can you believe we’re already halfway through 2020? With our current chain of events, now is the perfect time to take a pause for a quick mid-year credit check-in. No matter what has happened, let’s not abandon our credit scores or long-term goals in the process. 

Here are a few reminders to keep things on track while making the best out of what the remainder of the year can bring.

Review all credit reports for errors

Be sure to take a thorough look at your credit report to verify the information listed is correct. In the instance there are any discrepancies or errors, this is the time to investigate and dispute if necessary. The credit reporting agency and the lender must be contacted in order to begin the process of resolution. Even in the instance there are no issues found, you’ll have a peace of mind knowing the due diligence has been done.

Make timely bill payments

Impromptu vacations and shopping trips can easily cause us to lose focus on what’s most important. The largest portion of your FICO®Score at a whopping 35% is your payment history.

Keep credit card balances low

This is something that can be a challenge during the summer months and during our current season of COVID-19 which has resulted in furloughs and layoffs across our nation. Working towards adopting a mindset of comparing the need to haves in our life compared to the nice to haves is a personal practice that will alleviate credit card balance shock in the future. Maintaining lower revolving utilization ratios will not only help to improve your score but can also definitely reduce any financial worry.

Remain patient and be diligent

Using these tips consistently will keep you on track to finishing this year feeling financially empowered and on track to a healthy credit score. 

The way you manage your finances and use credit can impact your FICO®Scores (both positively and negatively). A rise or dip in your FICO®Scores, can vary widely depending on your credit profile, and how you have used and managed your credit overtime.

Carve out an hour this summer to assess where your credit stands. Remember the simplest adjustments can make a huge impact. Pay your bills on time, keep those credit card balances low and only apply for credit only when you need it.

To learn more about financial education and credit health, visit

I am an official brand ambassador for FICO. While I receive compensation for my participation as a brand ambassador, opinions are mine. 

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The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through financial therapy, education, and an innovative learning hub on wheels. Creator Marsha Barnes is Certified in Financial Therapy, Financial Social Work, serves on the Financial Advisory Board for Secret Deodorant (Procter & Gamble), and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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