4 Ways to Improve Your Credit Score

What’s In A Credit Score

  • 35% — Your payment history
  • 30% — Amount owed and utilization ratio
  • 15% — Credit history length
  • 10% — New lines of credit requested
  • 10% — Credit and loan types

1. Lower Your Credit-to-Debt Ratio

  1. Pay off more of your debt.
  2. Requesting a credit limit increase.

If your credit-to-debt ratio is higher than 50%, you might want to look into credit card consolidation options. It won’t improve your credit score, but should make your monthly payments more manageable.

2. Fix Credit Report Mistakes

3. Stop Applying for New Credit Cards

If you’re in “credit improvement mode”, try to hold off on applying for any new lines of credit — this includes loans, credit cards, and rewards cards.

4. Don’t Close Out Your Cards



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


We publish consumer guides and tips on home mortgage loans, personal finance, budgeting and saving. Check out our website - https://www.mortgagewiki.org/