If you’re not happy with your current credit score, then you can do something about it and start improving your credit now.  In this article, let us tackle some quick fixes that are often overlooked yet can be a great help in improving your credit score:

1. Apply for a credit card. If you don’t have a credit card yet, then getting one can help you build better credit.  You don’t really need to charge large purchases or carry a balance to improve your score as long as you use your credit card regularly.  Use your credit card for a small purchase and pay your balance in full before the due date to avoid the interest rate and late fees.

GOOD READ: Using a Credit Card to Rebuild Bad Credit

2. Apply for a personal loan. Having a mix of credit is a great way to show your capability to manage credit and debt.  Aside from a credit card, it’s a good idea to acquire at least one or two types of instalment debt such as a car loan, student loan, personal loan, or mortgage.  If you’re not ready for a big loan, borrow a small amount of a personal loan, making sure that you will be able to keep up with your monthly payments.

3. Keep credit line usage minimal.  Credit utilization is 30% of your FICO score.  Lenders want to see you utilize your credit line but not to the point that you are maximizing or going over the limit.  In fact, financial experts recommend not using more than 30% of your credit limit.  The lower your charges are compared to your credit line, the better your credit score would be.

4.  Keep an old card. Are you thinking about cancelling an old card?  If you are, think about it carefully as doing so would mean erasing the oldest parts of your credit history.  Such a move can badly affect your credit rating since 10% of your FICO score is based on the length of your credit history.  If you want to cancel an old card because it has a high interest rate, use it only for very small purchases and pay it in full at once. You can also use this card to pay a recurring bill such as your phone or electricity bill making sure that you use your cash to completely pay off the charge right away.  This way, you don’t have to pay the interest and you get to keep your card active at the same time.

5. Request for favour. If you missed one due date, call up your creditor immediately and request that request that your late payment not be reported to protect your credit history.  You can do so if you have been a long time customer and with a good record to match.  If you try, your creditor would most likely grant your request especially if you have a good reason for not making your payment on time.

6. Check your report for errors.  Get a copy of your personal credit report from the three major bureaus at least twice a year or before submitting your application to a lender.  Carefully examine your report to make sure that it contains no errors. If you found any, send a dispute letter to the bureau that issued your report right away to have those errors corrected.

TIP:  How to Get Your Free Credit Report

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About the Author

Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. NHBS also has a list of recommended Credit Cards for Bad Credit

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About Melanie Mathis

Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. Connect with Melanie Mathis on Google+