Since your credit score is a reflection of your past credit history, there is no magical way to improve it immediately; however there ARE steps you can take to raise your score.

• Pay your bills on time! Late payments, collections, and bankruptcies will have the greatest negative effect on your credit score.  Even if your debt is small, being punctual is very important!  If you DO miss a payment, make sure that you bring it current the following month.  This will keep the item from showing past due on your credit report.  If you fall behind due to illness, unemployment, or family issues: first, contact your creditor and explain the circumstances to them and work out a payment schedule that you can meet; second, you can add a short consumer statement to your credit report.
• Check your credit report! Make sure the information reported is accurate.  Requesting your own credit report will not show up as a hard inquiry and, therefore, will not negatively affect your score.  If you have bad credit, immediately begin taking steps to repair your credit.
• Don’t open new accounts that you don’t need! Not only will opening multiple new accounts in a short period of time possibly lower your score, but too many accounts may also lower your score.  Remember, you don’t want to overextend yourself!
• Keep your total account balances as low as possible. Remember, balances over 50% of your credit limits will lower your score, aim for balances that are less than 30% of your credit limit.  Also, pay OFF debt rather than just moving it around.
• Minimize the number of inquiries on your credit report. A large number of hard inquiries (where you have applied for credit) may lower your score, so don’t apply for multiple credit cards over a short period of time.
• Be patient. Just as there is no quick fix to repairing your credit, there is no fast way to improve your credit score.  Build a long history of good credit by paying your bills on time and being responsible.  Consider keeping the oldest account on your credit report open.  This will lengthen your credit history.

Remember: One action on your Credit Report may have multiple effects on your Credit Score (your score fluctuates as your report changes).

For example: You decide to close several unused department store credit card accounts.  By lowering the number of department store accounts, you will generally raise your score; however, it also lowers your total number of accounts, which could *lower* your score.

When you receive your Credit Score, pay attention to the factors that went into calculating it.  Identify which elements you might be able to improve.