DJ Hassan’s Financially Fit Interview: How to Keep Your Credit Score Looking Good

Everyone wants to manage their money better and save, so I'm embarking on a series of interviews with KeyBank about financial fitness. You can catch them on air between 10 am and 2 pm each Thursday or online HERE.

In this week's interview, I talked to Aaron Hayes, vice president and consumer service department manager at KeyBank, about credit, which is such an important aspect of your financial life and can make a huge difference when it comes to taking out a loan or buying a home.

You can listen to the full interview below:

I started off by asking Aaron what's the one thing everybody should do to keep their credit score looking good:

One thing that everybody can do is pay your bills on time. It might help to put all your payment due dates on your calendar, whether it's digital or the old-fashioned paper kind. You can also setup automatic payments for your bills, which will help ensure you won't get your credit dinged by a little absent mindedness. You can use Bill Pay to schedule and keep track of your payments as well.

But what if you're having trouble paying your bills? Are there any steps you can take to help soften the blow to your credit score and buy you some time to get your money management back on track? Here's what Aaron says:

One way to avoid having your credit score dinged for late payments is to create a budget that prioritizes credit payments above discretionary spending like eating out or adding to your wardrobe. Also, most credit card issuers offer hardship programs that cut customers a break for situations like when they lose their job or incur unexpected medical expenses. But you need to contact them early to request the help. Once you get three or more months behind, you may lose the option to opt-in.

Ready to take that next financial step? Learn more about KeyBank Plus Check Cashing and account options at key.com/personal/index.jsp or stop by one of their convenient locations. You can search for the nearest location here.