How to Raise My Credit Score Over 700

Credit scores determine almost everything when it comes to receiving credit. Those with the highest scores get the lowest interest rates, which, on things like mortgages, can add up to tens of thousands of dollars over the life of the loan. It therefore behooves most people, especially those with lower scores, to take measures to improve their credit. It does take time and effort, but a high credit score can pay off in the long run.

Instructions

1

Check your credit report. Fraudulent charges or incorrect information can have serious effects on your credit, so make sure your credit report is free of these.

2

Bring all delinquent accounts current.

3

Lower your debt-to-credit ratio. This means paying off as much debt as you can, without acquiring new debt or losing available credit. An excellent debt-to-credit ratio is 10 percent.

4

Stop applying for cards. When you apply for a credit card, it's called a "hard inquiry," and too many of these will have a negative impact on your credit score.

5

Make all payments on time.

6

Wait. Some negative reports on your credit report can only go away with time. For instance, most late payments take seven years to leave your credit report.