Improving Your Credit Score

Although there are no quick fixes when it comes to improving your credit score, you can improve it over time. Here are nine steps you can take to become more creditworthy:

  1. Create a budget and stick to it.

  2. Continue paying your bills on time — your payment history matters.

  3. Pay down high balances.

  4. Settle any collections or past due accounts.

  5. Don’t cancel your credit cards, since length of credit helps. A paid-off, open line of credit can actually boost your score. In fact, canceling it may cause your score to drop.

  6. Don’t apply for new credit.

  7. Dispute inaccurate items in your credit report.

  8. Keep “good debt” on your report, such as an auto loan with a good payment history.

  9. Pay your parking tickets, library fines, and any other fines you may incur. If they’re sent to collections, it can negatively impact your score.

Getting your financial house in order will get you another step closer to purchasing a new house of your own.

We are not a credit counseling or financial advisement firm. This information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation.

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