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motokiwi

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how can i raise my credit score. I already bought a house and have one auto loan. Both on time.

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Assuming that you also have credit cards or revolving type credit accounts and you have a decent credit history (no derogatory marks, negative accounts, or judgments)... the tips below can help increase your credit score

  • Pay your bills on time and maintain a healthy on time payment history (no late payments)
  • Pay down your current debt and keep your credit card utilization under 30%
  • Check your credit reports - make sure everything is accurate and doesn't contain errors
  • Apply for new credit in moderation (only apply if you really need to). If you apply for credit too often your score can go down because you will have a lot of hard inquiries and your average credit line age will stay low.
  • Use credit to build credit (don't let accounts go inactive), but do so responsibly (only spend what you can afford monthly and then pay it off) to show positive credit usage.
  • Simply let time go by - your credit score will tend to rise as your account age rises and while you're building your credit responsibly.

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