6 Steps to Boost Your Credit Score

Dated: April 20 2020

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It's always good to have a healthy credit score to give yourself an advantage when applying for credit or a loan. If yours isn't the best or you're coming out of a bad credit history, here are six things to try to boost your scores. 

1. Check your credit report for errors

  • You have credit reports from 3 credit bureaus - Experian, Equifax and Transunion. 
  • You can check credit reports from all three credit bureaus for free once every 12 months at AnnualCreditReport.com.

2. Find out when your creditor reports payment history

  • Call the creditor to get the date they report payments to the credit bureaus. It's usually the closing date on your account. Note this is not the same as your payment due date. 
  • Make your payments BEFORE the closing date so your balance is reported as lower or zero and the lower balance is used to calculate your FICO score. 

3. Rapid rescoring 

  • This is an option with lenders to fix errors and update information with credit bureaus quickly
  • Discuss with lender to see if this is a good option for you

4. Pay off credit card balances

  • Pay down balances strategically. Pay off the higher balances first to improve your utilization rates
  • Keep your utilization rate low, less than 30% of your credit limit

5. Pay off outstanding collections

6. No credit = low credit

  • If you have no credit, get a credit card or a small loan to establish a history of good payments.
  • Store credit cards can be an option, but the interest rates can be high. So it's better to pay the balance off every month.

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Brenda Revelle-Wilson

I grew up in North Carolina. I earned my Master's degree at East Carolina University and started a career in Allied Health Sciences. I was licensed as an Audiologist and helped people to improve their....

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