It seems to be impossible to improve your credit store; once it goes down, it seems to just stay there. However, there are a few ways that you can add some numbers to your credit score if you know how to do it. It takes time and dedication, as well as some sacrifices, but seeing your credit score go up is definitely worth it.
The first thing you need to do is go through your credit score and records to make sure it’s actually accurate. You’d be surprised at how often your credit score goes down because of companies reporting incorrect numbers about your finances. You have the right to see what affects your credit score and, if you find something is off, then contact the organization in order to get things fixed. It may take a while to do this, but it’s worth it.
Next, you should make sure you’ve paid all your debts off. The more debts you have (and the longer they go unpaid), the lower your credit score will be. The best way to do this is through a debt snowball: pretty much, you pay off the biggest debt first, throwing all your extra money at it. Once that’s paid off, pay off the next biggest debt until everything is done!
Along with paying off your debts, you also want to make sure to stay on top of other payments. If you have a history of missed payments (like insurance, mortgage, rent, etc.) and lots of late fees, then it’s going to lower your credit score. Start getting on top of your payments to make sure they’re paid off by the time they’re due. This will help you begin to build a good credit history, which makes you more financially reliable, increasing your credit score over time.
You’ll also want to consolidate and limit the credit cards you have and use. Every time you go to open a new line of credit, the inquiry is recorded. Lots of inquiries within a short amount of time can lower your credit score as well as reflect poorly on your financial situation. To the best of your ability, limit the amount of credit cards you have and how often you apply for new ones.