How can I raise my credit score?
Your credit score is determined by five factors: payment history, credit utilization, credit history, type of credit and credit inquiries. Payment history makes up the largest part of your credit score, so making sure you’re making your payments on time is the most effective way to gain a higher overall credit score. You can also see an increase in your credit score by using your credit effectively. Use your credit cards, but never max them out. Don’t keep a balance larger than 30% of your limit on any card, as that will cause your scores to drop. If you have an older account that you don’t use very often, don’t close it just because it’s inactive. Keeping your aged accounts will help your “old credit to new credit” ratio, and that can also significantly affect your credit score. A clean credit report will give you the best opportunity to fix your credit score and improve your credit altogether.