- Pay off outstanding debts
- Keep credit card balances low
- Limit new credit applications
- Check your credit report regularly
- Consider a credit-builder loan or secured credit card
Pay off outstanding debts
Paying off outstanding debts can have a significant impact on your credit score. Focus on paying off high-interest debts first and then work your way down the list.
Keep credit card balances low
High credit card balances can negatively impact your credit score. Aim to keep your credit card balances below 30% of your credit limit to improve your score.
Limit new credit applications
Applying for multiple new credit accounts within a short period can lower your credit score. Limit new credit applications to only when necessary.
Check your credit report regularly
Regularly checking your credit report can help you identify any errors or fraudulent activity that may be impacting your score. Dispute any inaccuracies to have them corrected.
Consider a credit-builder loan or secured credit card
If you have trouble getting approved for traditional credit cards or loans, consider a credit-builder loan or secured credit card to help build or rebuild your credit. These options can demonstrate responsible credit use and improve your score over time.