Don't Miss Payments

Your payment history is easily one of if not the most important factors in determining your credit score. Having a history of on-time payments plays a big part in helping you achieve excellent credit scores. In order to accomplish this, you'll need to make sure you don't miss loan or credit card payments by more than 29 days. You should know that payments that are at least 30 days late can be reported to credit bureaus and end up doing serious damage to your credit score. A useful feature to ensure you don't miss payments is to set up automatic payments for the minimum amount due so you don't forget.

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Do Not Apply For Too Many New Accounts At Once

It is true that most people will need to open more accounts to build their credit file, you should generally limit how often you submit credit applications. Every application you send can lead to a hard inquiry, which could hurt your scores by a slight margin. These inquiries can also add up and have a compounding effect on your existing credit scores. Opening a new account will also decrease the average age of accounts, which could hurt your scores overall.

Focus On Past-Due Bills

If you are looking to improve your credit score, there is a good chance you are behind on at least a few of your bills. Prioritizing these bills could make a huge difference in your credit score. It is very important to know that a late payment can remain on your credit report for up to seven years, so having all your accounts current can be good for your scores. Catching up on past-due accounts also stops further late payments from being added to your credit history as well as additional late fees.