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If a Higher Credit Score Is Better, How Do I Make My Score Go Up?

Consumer Lawyer Network - woman reading credit score

Knowing what a credit score is, how to read your credit score . and what comprises the score (as well as the consequences of bad credit scores), you are probably anxious to take steps to improve your credit.  Here are a few actions and key points that can increase your score.  You should know that there is no “magic bullet” for getting your credit to improve quickly.  Before making drastic changes to how you manage your finances, you should probably talk to a professional.

A reply to the popular topic “ how to better my credit score :”

  • Paying your bills on time will improve your FICO score.
  • Paying off debt and thereby lowering the credit utilization ratio can improve your FICO score. Alternatively, applying for and receiving credit limit increases or additional sources of

    credit also improves the utilization ratio.  Be careful!  Having more credit available may tempt you to use it, which would be worse for your score.  Make sure you read our next article before running out and getting a bunch of shiny new credit cards!

  • As your credit history grows longer, your score can go up.
  • Increasing the number of types of credit in your credit history can improve your score.  Categories include, but are not limited to, installment credit, revolving credit, consumer finance credit, and mortgage.  Be careful, again!  In order to increase the types of credit in your history, you will be taking on more debt.  Watch this very carefully.

Now that you know how to improve your score, next time we’ll talk about how to avoid trashing our score.

Photo Credit: Danilo Rizzuti

Category: Credit

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