How to Raise My Fico Score

In order to take a loan or get a line of credit from a new lender, one must have a good credit score. There are a number of credit unions from which a credit score can be acquired for this purpose. A popular option is FICO credit score which is considered to be quite authentic.

There are certain ways in which this score can be improved and maintained. It does not take a lot of effort but some consistency from you.


  • 1

    Pay on Time

    Make the payments in a timely fashion. Make sure that you do not delay payments as this can lead to reporting of late payment to credit union.

  • 2

    Pay At Least a Little Over Minimum

    It is quite enticing to pay a little over the minimum required amount. This has two effects. One has direct financial implication while the other affects your credit score directly.

    Doing so, brings down the minimum payment down every month and reduces the amount of money you pay in form of interest in the longer run. It also shows that you are responsible and creditors are more willing to trust you, thus improving your credit score.

  • 3

    Never Miss Utility Bills

    People sometimes miss their utility bills; never do this. If you are paying on time, it may not have a big impact on your credit score but if you are not, it will most likely be reported, giving you a bad hit.

  • 4

    Pay As Often As You Can

    Although you can be content with a single payment, it is not a bad idea to pay as you go. Small payments made every now and again, apart from the main payment, can help in getting the minimum payment lowered and improving your credit score at the same time.

  • 5

    Don’t Close Accounts

    Do not close accounts even when they are not in use. You can put away the cards and not use them. Experts suggest that at least five percent of the balance on any kind of credit option should be used at any given time.

  • 6

    Do not Use the Entire Credit Line

    If you have a credit line, do not use all of it. It should be used at 85% or less to let the lenders know that you are not a big risk client.

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