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No quick-fix solutions exist to raise your credit score, but with a little discipline, you can raise it over time. Here are some tips to help you. Improve your credit history.
You can do that by:
Paying your gills on time. Delinquencies and collections have a major negative affect on your credit score. Get current and stay current if you have missed payments. The longer you pay your bills on time, the better your credit score.
Paying off a collection account won't remove it from your credit report.
It will stay on your report for seven years. If you are having trouble paying bills, contact your creditors or see a non-profit credit counselor. By taking these steps, your score will get better over time.
Managing the amounts you owe. Be sure to keep balances low on credit cards because high amounts of debt can affect your score. Pay off your debt – don't just move it to another, lower-interest credit card.
Consider closing some accounts if you have many, but don't close unused credit cards as a short-term strategy to raise your score. Opening a number of new credit cards to increase your available credit can also lower your score.
Improving your length of credit history. If you have had credit only for a short time, don't open a lot of new accounts in a short period of time – it looks risky. New accounts will lower your average account age, which has larger effect on your score if you don't have a lot of other credit information.
Carefully managing new credit.
If you want to shop for better rates, do it with in a defined period of time. Your score will distinguish between the search for a loan and a search for a number of new credit lines based on the amount of time that inquiries occur.
If you have had credit problems, re-establish your credit history. Opening new accounts and paying them off on time will raise your score over the long term.
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