There are various factors that can raise your credit score.
Here are some important ones.
Pay your bills on time
Paying your bills on time is crucial. A missed payment of 30 days and up can really hurt your credit score.
So as caution number one, make sure you pay your credit cards and loans on time. This will keep your credit score up.
Keep balances low
Although you may have hundreds of dollars available in credit on your credit cards, make sure you don’t use all of the available credit on your cards.
Keep balances to 9% of your credit limit. The higher your balances, the more of a negative impact it will have on your credit score. Keeping balances as low as possible is the best way to go.
Do make sure you use your card though, otherwise it’ll go inactive.
Long credit history
Having credit cards open for a long time is a really good factor for a high credit score. So open your first credit card ASAP and keep your first 2-3 credit cards open forever.
Nice credit mix
The more of a credit mix you have, the better your score will rate. That means boasting some revolving tradelines, such as credit cards, as well as investment tradelines, such as loans and mortgages.
No recent credit inquiries
Each time you open a new credit card, there will be a hard inquiry done to your credit. That’s just to check your credit to ensure eligibility, however it will hurt your score by a few points.
It’s a temporary affect, so expect your credit score to go back up after 6 months.