10 Tips to Improve Your Credit Score 

There are no quick fixes for improving your credit score but over time you can raise it by consistently managing your finances.

1. Pay your bills on time – This is the best way to improve your score.  It is never to late, find a system (calendar, App) to keep you on track. If you are going to be late, don’t avoid your creditors keep in contact with them.
2. Keep credit card balances low – High outstanding debt can pull down your score. Don’t max out your credit cards all the time.
3. Check your credit report for accuracy – It is possible there may be inaccurate information on your credit report that can be easily cleared up.  It this is the case, then you should contact the three credit reporting agencies to get it corrected (TransUnion, Experian, Equifax)
4. Pay off debt rather than moving it around – Consolidating your credit card debt onto one care or spreading it over multiple cards will not improve your score in the long run.  The most effective way to improve your score is by simply paying down the amount you owe.
5. Keep your credit cards – manage them responsibly – In general, having credit cards and installments loans that you pay on time will raise your score.  Someone who has no credit cards tends to have a lower score than someone who has managed credit cards responsibly.
6. Don’t open multiple accounts too quickly – Opening too many accounts in too short of a time period can look risky because you are taking on a lot of possible debt.  Too many inquiries can hurt your credit score.
7. Don’t open accounts you do not need – This approach could backfire and actually lower your score.
8. Don’t close an account to remove it from your record – It is a myth that closing an account removes it from your credit report. In fact, closing accounts can sometimes hurt your score.
9. Shop for a loan within a short period of time – FICO scores distinguish between a search for a single loan and a search for many new credit lines based in part on the length of time over which recent requests for credit occur.  If you shop for too many loans over a long length of time this could hurt your score.
10. Contact your creditors or see a legitimate credit counselor if you are having financial difficulties –  This won’t improve your score, but the sooner you start managing your finances well and making timely payments will improve your score overtime.

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