Step 2: If your report states that you’ve used too much of your available credit, stop using your credit cards! You really need to decrease the balances on your cards. And, be sure to pay at least the minimum due on all credit cards. You also want to be sure that you don’t use too much of the available balance on any one card, as this can also bring your score down.
Step 3: If your report shows that you’ve paid bills late, this will affect your score for some time. The best thing you can do is to begin paying all bills on time immediately. Repeated prompt payments are one of the fastest ways you can improve your credit score, and also show lenders that you are a responsible person.
Step 4: If you are new to the world of credit and have not yet built a credit history, it’s fairly simply to begin the process. You might want to start simply with a small personal loan, with a responsible co-signer, such as a parent or spouse. Once you’ve obtained the credit with this person’s help, just be sure to pay the credit off exactly as agreed with the lender. This responsible behavior will lead to a great credit score.
Step 5: Finally, keep in mind that you will be allowed to explain any negative marks on your credit report when you are applying for credit. At that time, be sure to show the lender that you’ve been following these steps to improve your credit score.
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