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HOW TO RAISE YOUR CREDIT SCORE

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High outstanding balances on credit cards and other debt can lower your score – even if you are making timely payments on your current debt. Lenders know that the more debt you have, the more difficult it would be to pay your bills if you were to lose your job, face a sudden illness or get divorced. Try to keep your outstanding balances below 50 percent of your credit limit.

Keep balances low

High outstanding balances on credit cards and other debt can lower your score – even if you are making timely payments on your current debt. Lenders know that the more debt you have, the more difficult it would be to pay your bills if you were to lose your job, face a sudden illness, or get divorced. Try to keep your outstanding balances below 50 percent of your credit limit.

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    • Check your credit score
    • Pay all bills on time
    • Keep balances low
    • Don’t apply for credit too often
    • Pay off debt
    • Check your credit report regularly
    • Avoid quick credit fixes
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