4 Simple Tips to Raise Your Credit Score


Working for a good credit score is like working for a good reputation—it takes a lot of time and work. Banks score you according not only to your current actions, but also according to your past spending behaviour. In addition to ensuring that you’re making the right moves, consistency is the key to up your credit scores. A few simple tips can help push your score to the top of the scale.


  1. Avoid Getting Too Many Credit Cards. Use no more than two credit cards at a time. If a bank sees that you have three or more credit cards in a short span of time, the company might think that you’re in desperate need of cash—and desperate people don’t make good credit risks.


  1. Forget About Using a P.O. Box. It may seem odd, but using a post office box can harm your credit score. When a credit bureau sees that your bills are delivered to a P.O. box, they may think that you either move frequently or that someone stole your identity. Both scenarios can be warning signals to credit card companies.


  1. Pay Your Dues On Time. Did you know that missing a deadline for your credit card payment can jack your rate to the default rate? This is called ‘universal default’ – and you want to avoid this at all cost. If you’re more than a month late on any of your balances, you’re giving your credit card company the right to treat you like a financial exile.


  1. Ask for Leeway. One sure-fire way to sabotaging your credit score is making late credit payments. If you’re coming up short and have always been a good loaner, protect your reputation by simply calling your lender and asking for an extension. You may also ask if it’s possible to make partial payment this month. If you have a good track record, chances are you will get a free pass and be able to keep your score high.

It’s impossible to pinpoint which tips can significantly raise your credit score, since every credit history is different and every credit company follows a unique set of criteria. However, by simply being a responsible loaner, you give zero reason for your credit company to pull down your credit rating.