Boost Your Financial Health: Tips for Improving Your Credit

Credit health is a cornerstone of financial stability, both personally and for your business. With credit card delinquencies at their highest in 12 years, it’s more important than ever to stay on top of your credit. This month, we’re diving into practical steps for improving your credit.

By seeking professional guidance and analyzing your financial habits, you can strengthen your credit and build a solid foundation for the future.

Improve Your Credit: Practical Tips

  • Seek Professional Guidance: Consulting with a financial advisor can provide personalized strategies to boost your credit. A professional can help you understand the nuances of credit scoring and develop a tailored plan to improve your score.
  • Analyze Your Credit and Spending: Regularly review your credit report to identify any inaccuracies or areas for improvement. Tools like credit monitoring services can help you stay informed about your credit status.
  • Manage Your Debt-to-Income Ratio: A healthy debt-to-income ratio is crucial for credit improvement. Aim to keep your debt-to-income ratio below 30%. This shows lenders that you manage your debt responsibly, which can positively impact your credit score.
  • Avoid Over-Spending: It’s essential to maintain a balanced budget. Studies show that Americans are spending beyond their means more than ever; which can lead to a cycle of debt that’s hard to break. Be mindful of your purchases and avoid the temptation to lean on buy-now-pay-later schemes.

Steps You Can Take Today:

  • Get Your Credit Report: Ensure you have an accurate picture of your credit You can obtain a free credit report from various resources, like this guide from Ascendus: How to Get a Copy of Your Credit Report.
  • Limit Third-Party Tracking: Protect your privacy and credit by opting out of third-party data removing services like OnStar if you don’t want your driving history tracked and not opting in to other tracking services, can help maintain your financial privacy.
  • Reference Expert Insights: Drawing from a recent Bloomberg article, it’s clear that managing debt wisely is To hedge against economic headwinds, ensure a strong debt service coverage ratio. This New York Times article also provides valuable insights into maintaining financial health in turbulent times.

Improving your credit is a key step towards financial stability and success. By following these tips and leveraging expert advice, you can take control of your credit and build a stronger financial future. Stay proactive, seek guidance, and make informed decisions to navigate the complexities of credit management.

Andrea Ierace

Interview from Vice President of Lending, Andrea Ierace:

When we speak about Credit Building, I think it’s extremely important to remind our customers that incorporate 5 simple actions in our routine could make a huge difference in terms of credit building.

  1. Establish and maintain open at least 3 active tradelines showing a positive payment history. Remember, make sure you ask to your Lender if they will report your loan to at least one of the 3 major credit bureaus.
  2. Work on creating a mix of the credit type used showing a proficient use of these different kind of debt as such loans (installments) that typically imply fixed payments and credit cards or lines of credit (revolving) that could be considered more flexible as the monthly payment will fluctuate based on the balance used.
  3. A minimum of 6 months of history is required to demonstrate that you have a regular and on time credit usage. Remember to make at least one payment within 6 months, otherwise the Lender is likely to close your account. A closed account in bad standing will falls off your credit report after 7 years, on the other hand a closed account in good standing will be removed from your credit report after 10 years.
  4. Inform yourself tracking your credit progresses and spending trends. I recommend using this free recourse to monitor your credit:
  5. Avoid Misleading and Fraudulent Advice when it comes to Credit Pay to Delete, dispute any negative information on your credit report or Claiming Identity Theft to have derogatory information removed violate the Fair Credit Reporting Act accuracy requirement. Nevertheless, you can dispute errors on your credit report without incurring in any charge using the Consumer Financial Protection Bureau:


Stay tuned for next month’s newsletter: Marketing & Customer Experience, how to incorporate AI tools, and an interview with our very own Senior Customer Experience Manager, Gustavo!


Myesha Radney

“All the skills I learned from Ascendus in three months, I can take and apply to the next ten years. Not only did I get better credit, but I learned to keep that credit up.”

– Myesha Radney, Easton’s Virtual Consulting

Myesha Improves Her Credit in Under Three Months Through the Ascendus Get Ready Program

Click to watch, and learn more about the incredible small businesses that are focusing on providing an impact, making a difference in their communities, and the journey up.

Als Backwoods Berrie Co

A small family-run business in Plymouth, Massachusetts, Al’s Backwoods Berrie Co.’s goal is to produce the best homemade jams from the freshest ingredients! All jams are made on site by Al himself, to ensure freshness and quality in each jar.

A passionate, innovative gelato company, Vegallia started when founder Corina found herself with a health issue that required her to stop eating dairy and sugar. Made with plant-based, state-of-the-art, functional ingredients, Vegallia is one frozen treat you can feel good about!


Family owned and operated for over 30 years, Hahn’s Old-Fashioned Cake Company bakes fresh cakes daily and ships anywhere throughout the US, Canada, Puerto Rico, Guam, and the US Virgin Islands! Whether it’s a gift of appreciation or a sweet way to celebrate a holiday or birthday, there are many reasons to order one of these delicious cakes.

Loan Program and Upcomming Event banner


 Need a loan, line of credit or personal finance coaching to help your business grow? Check out these resources designed for your needs.

Business Term Loan

For small business owners who need money to grow their business, Ascendus offers loans from $500 – $50,000. Qualified businesses will be located nationwide, except Vermont.

Read More

New Jersey Capital Access Fund

Borrow up to $150,000 at a fixed, competitive interest rate for the life of your loan. Available only to small businesses located in the state of New Jersey.

Read More

CT Small Business Boost Fund

Supported by the Connecticut Department of Economic & Community Development, this fund links Connecticut small businesses and nonprofits to financial support.

Read More

Childcare Business Development

Qualified Businesses nationwide, excluding Vermont. If you have been in business for more than three years, you can access up to $25,000 in fast-track financing within 48 hours. No paperwork is needed to apply.

Read More

Business Line of Credit

Access a line of credit up to $25,000 in fast track financing at a 13.99% interest rate.

Read More

New York Forward Loan Fund 2.0

Up to $150,000 with a fixed interest rate for the lifetime of the loan. Eligible to New York small businesses only.

Read More

Entrepreneurs of Color Fund

Loans up to $250,000. Eligible to small business owners in any state, excluding Vermont. Must be 51% or more owned by an entrepreneur of color.

Read More

“Get Ready” Business Line of Credit

No FICO minimum! This line of credit product is designed for African American small business owners ready to improve their credit and invest in their business. $5,000 offered at 13.99%.

Read More


Ascendus Credit Coaching

Free tailored credit coaching. Training sessions will include credit building, debt management tailored to long- and short-term goals, prioritizing debt repayment, budget assessment, and assessment for current credit-building programs.

Read More

MASTERCARD Digital Doo rs

MASTERCARD: Digital Doors

A strong digital presence is more critical than ever for your business. Get your business online, protected and equipped with the right digital and financial tools to enable your future growth.

Read More

ICCC Program

A free, 40-hour “mini-MBA” program designed to provide small business owners with capacity-building education, one-on-one coaching, and access to capital.

Read More

​​L’Oreal Inclusive Beauty Fund Program


Create Free AI powered websites for your small business. Access website building consultants, learn how to build and manage a website from scratch, and how to set up merchant services.

Read More


Read our newsletter on tips to getting ahead of the game for an easier tax season– featuring our CFO, Joshua!

sign up for our newsletters

Skip to content