A credit score of 700 or higher makes you a good candidate for a loan. But rather than pay someone to help repair your credit history, consider ways to improve your credit rating for free.
Build a Good Payment History
Payment habits have a significant impact on credit scoring, and maintaining a good rating entails paying credit card, auto loans and other types of loans before or on their due dates. Habitual late payments damage your rating and result in late fees.
Keep Debt to a Minimum
Along with your payment record, the amount of debt you carry impacts credit scoring. Paying off credit card balances each month and keeping your overall debt totals low can help improve your credit rating.
Beware Credit Report Errors
Failing to check and analyze your credit report yearly can result in a lower credit rating due to reporting errors. Creditors may report inaccurate information. Getting a free report from Annual Credit Reports and challenging errors can help fix a low rating.
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