Tips To Improve Your Credit Score For Your Security Clearance

Top 4 Simple Ways To Improve Your Credit Score 

Are you a government employee applying for a security clearance? Improve your chances of getting security clearance with these four simple tips to improve your credit score. 

Security clearance is an elite status granted to select federal employees. One of the qualifications for getting security clearance is a good credit score. If you have a bad credit score, or your credit score plunged recently, you will need to pull it up before applying for security clearance. Here are four tips to improve your credit score with a federal employee loan program from Access Loans. 

Your Credit Score And Security Clearance

Security clearance allows federal employees access to classified information or restricted areas at the organizational or state level. This is a major responsibility that requires prudence and discipline. The US Office of Personnel Management, which grants security clearance, rationalized that credit scores reflect a person’s self-control, judgment, willingness to the follow rules, and reliability. Since they will be handling classified information, they need to be trusted, and there should be no doubt that bribes will not sway them. 

Understandably, the US government sees federal employees’ credit score as a reflection of their character. However, unlike morality and character, finances are not absolute. Read on for tips on how to get your credit score to reflect your upstanding character.

Improving Your Credit Score

1. Pay Your Bills On Time

Your credit history is a crucial factor in your credit score. So, any missed payments of more than 30 days, especially if it’s habitual, bring down your credit score. Pay your bills on time. If you are to miss a payment, make sure to contact your provider and negotiate with them. 

2. Maintain Low Credit Utilization Rate

Check how much of your credit limit has not been used—divide your total credit limit across all accounts by your total current balances and multiply it by 100. Experts advise keeping your credit utilization rate at 30%. 

3. Check For Errors In Your Credit Report

It’s not uncommon for inconsistencies to mess up your credit report. Try to periodically get your credit score (no, it will not negatively affect your credit score!) and check the details for any inaccuracies. Fix those as soon as you can.

4. Consolidate Your Debt

If you have multiple debts and are on the brink of defaulting in any of them, consolidating your debt is your best bet. Access Loans’ federal employee Loan program will help you pay off your debts while you enjoy lower interest rates. 

You can also apply for Access Loans’ federal employee loan program here to help improve your credit score - if you need emergency funds.

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