There are several things that can be done to improve your credit score. The most obvious thing that can be done to quickly improve your credit scores is to keep your payments on time, pay your balances down to below 50% of your credit limits, do not close credit card accounts if you can avoid to, and avoid having numerous inquiries on your credit report. While this may seem very simple and obvious to do there are a lot of consumers who do not understand credit and credit scoring because of the lack of information that is available out there. Therefore, one of the quickest ways to improve your credit score is to do preventative maintenance and work hard at maintaining an excellent credit history.
Another quick way to raise your credit score is to spread your credit card charges evenly through multiple credit cards that you already have. Having balances greater than 50% of your credit limit can gave negative impact on your score. Do not overcharge a single credit card, split up your transactions across cards that you already own and remit payments to your creditors on time.
One good way to improve your credit report FICO score is to review your credit report for errors. You can obtain your credit report for free from annualcreditreport.com or freecreditreport.com. Dispute and remove any inaccurate information on your credit report.
If you have a very high balance on one particular credit card (namely a high balance by comparison to the credit limit), transferring some of that balance to cards with higher limits, or simply increasing the limits on the cards with which you have good payment histories, may yield large increases in very short periods of time.
You should obtain a copy of your credit report and check it for errors or old negative accounts that are pulling your score down. After you identify these accounts you should dispute them with the credit reporting bureaus through their websites. Normally you will receive and email or letter letting you know if the accounts were removed or not.
Keeping credit cards with a zero balance open, rather than closing them out, will improve your credit score. Credit scores look at the length of time your open credit has been available to you. Making small purchases with open, previously zero balance credit cards is a way to improve your credit score quickly as well.
Keeping your payments on time is a very obvious way to maintain and improve your credit scores quickly. By keeping your payments on time, this also includes though making sure that you do not have or allow any accounts to ever go into a collection account status. Medical bills are very common for people to let go and while they normally will not report to your credit report, once they go to a collection agency there is a good chance that they will find their way on your credit report at that time. Medical co-pays, deductibles, and non-payments by the insurance companies are the most typical medical bills that end up in a collection account status. It does not matter if it is only a $20 co-pay or a $1,000 deductible that was not paid that ends up as a collection account on your credit report they will both seriously affect your credit score. Therefore, in order to quickly improve your credit score or maintain your high credit scores, make sure these items are taken care of either at the doctors office, when you receive your bill or that you set up a payment plan and stick to it.