Tips on Improving your Credit Score

You just pulled your yearly credit report, and your score is not has high as you would like.  What can you do to raise your score?  Follow these simple tips, and you will easily raise your credit score by the next time you check your report.

• Pay down your credit card balance:  the higher your balance, the lower your score.  By having more "available credit" and staying away from the max on your cards, the better score you will have.  Pay down your highest interest rate first, and slowly pay off the rest of your cards.  The less debt you have, the higher your score.
• Try not to use your cards.  The more you use your card and more of a balance you carry, the lower your score.  Try to pay off your credit card each month.  If not, pay as much as you can.
• Stay far far far away from your credit limit.  The closer you get to your credit limit, the lower your score will go.
• The older your credit history, the better.  Do not close your oldest card - keep it open, and try to use it every few months  (and pay off the balance).  That way, your credit history is still reported and showing your long credit history.
• Ask for a goodwill adjustment.  If you were late one payment, but the rest of your payments have always been on schedule, ask your credit card company for a goodwill adjustment.
• Dispute any negative marks on your credit history - old collections with telephone companies or other utilities may negatively affect your credit score.
• Correct any errors on your credit report.  Go though your report with a fine toothed comb for any errors that you may find.