Want to boost your credit score? If you have reviewed your report and have noticed that your score is not where you would like it to be, you need to go through the right process to get that score to increase. Improving the score may take several weeks or even a few months, but you will certainly benefit from that increase when it finally happens.
Open a Card With a Lower Interest Rate
If you have yet to establish your credit as an adult because you have avoided using credit cards in the past, opening a single card with a lower interest rate would not be a bad idea. While you may have some trouble finding the lowest interest rate available simply because you have yet to build much of a credit score, there are options out there, and having at least one card that you can use will help when you are trying to boost your credit score. After obtaining the new credit card, use it for some purchases and always pay off what you have spent before it is even due to get your score to go up.
Do Not Keep Applying for Different Credit Cards
When you have a credit inquiry, it is added to your credit report. Too many inquiries will bring your score down, so do not keep applying for dozens of different credit cards. If you get denied for one, apply for something else. If you get denied for the second card, wait to get feedback from the creditor contact them directly to see if they will offer a card with a lower amount of credit to help you get started with building your credit. If the creditor is not willing to do that, you can always get a secured card where you are making an initial deposit to get the credit.
Make a Request to Get an Old Late Payment Removed
If you made a late payment on a credit card many months ago and have not had any problems since then, put in a request to have that remark removed. A single late payment remark can cause your score to drop to a much lower number. Getting the bad remark removed could help you get the big boost to your score that you want and need.
Having a higher credit score is always better because that means you can get low interest rates on any future credit cards and loans you decide to take out. People with good credit often have a better chance of getting approved for everything they need.