How to Improve an Isaac FICO Credit Score Rating

Improving your Fair Isaac FICO credit score can make you an attractive candidate when applying for credit cards, mortgages and vehicle loans. Lenders prefer applicants with a good personal credit file. Being responsible with credit demonstrates creditworthiness, and you'll likely acquire a better rate on different types of financing. But even if you've made credit mistakes and you currently have a low FICO score, there are techniques to help improve your score.

Instructions

1

Get rid of debt and keep balances to a minimum. Pay off credit cards or significantly reduce the balance to help bring up your Fair Isaac FICO score and maintain a good credit rating. Contact old creditors to eliminate delinquent accounts, and only use credit if you have money to pay off the charge once you receive the bill.

2

Improve your payment history to demonstrate creditworthiness. Fees incur with late payments, and lenders report to the bureaus when payments are at least 30 days behind. This can negatively impact your FICO score. Be timely and pay attention to your due dates to help your credit rating.

3

Get a credit card. Acquire a new credit card after a bankruptcy to reestablish your credit history and rebuild your FICO score. Talk to your bank about secured credit cards, which are easily available to people with bad credit. Anticipate a security deposit of about $500.

4

Order your credit reports annually. Check your own credit report at least once a year to look for mistakes that can reduce your FICO score, such as unknown accounts or identity theft. Write a letter to the bureaus to dispute such charges.

5

Reduce your number of credit inquiries. Repeatedly applying for new lines of credit may appear harmless, but each credit inquiry takes point off your FICO score.