What Are the Factors That Go into a Good Credit Score?

How Do I Improve My Credit Score?

If you have reviewed your credit report and discovered that it isn't quite where you thought it'd be, then you're not alone. Start by taking control of your financial future by improving your credit score.

• Pay bills your on time - Repaying your debt timely will help you build a clean payment history. It will boost your credit score as it has the largest impact of all the factors in your credit score.
• Use credit responsibly - Always try to keep your credit card balances below your credit limits, ideally under 30%. Credit utilization ratio has the second-biggest influence on your credit score.
• Don't close all your old accounts - Keeping your older accounts open necessarily raises your average credit age. It will help you improve your credit score and bring down your credit utilization rate. Be careful when you cancel credit cards.
• Don't apply all at once - Avoid applying for several credit applications within a short time frame. Such applications yield hard inquiries which can cause a small, temporary dip in your score.
• Regularly monitor - You must track your credit reports to look for errors in your credit report.