How To Improve Your Credit Score

It is important to maintain a healthy credit score. There are no quick-fixes to improving your scores. The following tips will help you manage your credit responsibly:

• Pay your bills on time. Delinquent payments can have a major impact on your credit score.
• Contact your creditors if you are having trouble paying your bills. Creditors will often work with you to help you manage your debt.
• Keep your balances low on credit cards. High debt can negatively affect your score.
• Pay off debt rather than moving it around.
• Closing unused credit cards will not improve your short term credit score.
• Don't open new cards you don't need to increase your available credit.
• Beware of opening too many accounts too quickly.
• Shop for rates for loans within a specific period of time. All inquires for certain types of loans count as one inquiry if made within a predetermined amount of time. For example, when shopping for a mortgage, each credit inquiry made by a lender within a 45-day period counts as one inquiry on your credit report.
• Re-establish your credit if you have had problems. Paying new accounts responsibly will help improve your score over time.
• Apply and open new credit accounts only as needed.
• Manage your credit cards responsibly.
  

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