How can you improve your credit and credit scores?
Find out what your current FICO credit score is and what appears on your credit report.
Get any mistakes on your credit report corrected. This may take 30 days to 3 months.
Do not open any new credit cards that you do not need as this may adversely affect your credit rating.
Reduce your total account balances to be as low as possible. Generally it’s good to keep your balances at or below 25 percent of your credit limit.
Do not close unused credit card accounts near loan time as this could adversely affect your balance to limit ratio
You can repair damaged credit or overcome a short credit history. Start by paying your bills on time.
If you fall behind on paying a bill because of illness, unemployment or family issues, write an explanation to the credit reporting agencies. They will add it to your credit report. Call your creditors and explain the circumstances and try to work out a payment schedule that you can meet.
If you need help managing your credit, contact a reliable nonprofit agency.
Inquires into your credit report can adversely affect your ratings. When possible minimize the number of inquiries on your credit report. Do not apply for multiple credit cards over a short period of time or for a card you are not likely to get. Apply for new credit accounts only as needed.
Make all of your payments on time. If forced to miss a payment, be sure to pay the following month. Accounts for more than 60 days past due will be indicated on your credit report.
Make all of your payments on time. If forced to miss a payment, be sure to pay the following month. Accounts for more than 60 days past due will be indicated on your credit report.
Continue to check your credit report regularly, correcting errors and inaccuracies that can damage your credit score.
