Credit Score Improvement - Credit Score Range, Increase Credit Score

Make payments on time! This is the single biggest factor in determining your Fair Isaac Credit Score(FICO). A history of late payments will require extensive repair work on down the line when you need a loan or mortgage. Sticks bills on the refrigerator if you have to, whatever it takes. Just remember to pay them on time, even if it's the minimum payment. This can be your single most important credit score improvement project.

Don't push your credit to the max. Even if you have the means to pay off all or most of the debt you take on, it does not look good to banks or credit reporting companies if you are using 80 or 90 percent of your available credit. Banks are hesitant to assist people in "biting off more than they can chew" because if you suffer financial trouble later on, then both you and the bank will suffer. Remember that banks make their money by people paying off their loans with interest, not in foreclosures.

Be careful with credit and charge cards. To some it may seem like a smart decision to take out store credit cards with every business you frequent, however this is a really bad decision for your credit score. For one, having 8 or 12 credit cards may be hard to keep track of and result in you having the dreaded missed payment. Another is banks don't want to run the risk of you having your wallet or purse stolen and the thief maxing out all 12 of your cards. A good idea is to stick with two to four credit cards at a time.

Finally, keep in mind that the length of your credit history also plays a role in credit score improvement. You might not use that one credit card in your wallet anymore, but if you've had it five or more years longer than any of your others then it may actually be improving your credit score. Banks love reliability. This is especially important if you do not have a record of a home or auto loan.