Once you know what your credit score is, you may want to see what you can do to improve your score. Below are several things to consider when looking to improve your credit score:
1. Make your payments on time – Timely payments are very important to your credit score. If you are behind on payments, get current and stay current. Late payments can cause your credit score to drop (MyFico, Experian)
2. Keep your total credit usage low – Another important factor in your credit score is how much you have versus how much you are using (MyFico, Experian). For example, if you have a credit card with a $5,000 limit, you would seem to have a good amount of credit available. However, if your balance on that card is $4,000, you are using 80% of your available credit on that account! This will affect your credit negatively.
3. A longer credit history is better – The length of your credit history is also important, with a longer credit history being better. This length is calculated by averaging the age of all the accounts, so opening a lot of accounts simultaneously to increase total credit, or closing older, unused accounts is unlikely to improve your score (MyFico, Experian).