You cannot improve your credit score overnight but a slow, steady and responsible approach could raise your credit score.
1. Make Payments On Time: This seems obvious but continue to pay your bills, even your rent, cell phone bills, utilities because these will be reported if late. If you have missed payments get current and stay current.
2.Don’t bounce checks : Although it may have nothing to do with credit score right on but banksa have a method to track customers with bad finance habits. It will show up every time you need an auto loan or mortgage through a credit union.
3. Be extra careful with credit cards: Keep balances low on credit cards. A high outstanding bill could have affect on the score. Pay off debt instead of moving it around. Don’t close unused credit cards. Don’t open a number of new credit cards that you don’t need, just to increase your available credit.
This approach could backfire and actually lower your credit score.
4.For building a new credit history, apply for a secured card with a bank. You typically will have to keep a deposit with bank that can cover the charges you make on the card. It will be a slow and steady way to improve your score and further build your credit. You many consider signing for a small loan with a co-signer but keep this as a last resort….
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