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Ways to Improve your Credit Score

1.   Build a great payment history. It goes without saying that paying your bills on time is the key to a great credit rating.

2.   Avoid unnecessary inquiries.  Each time a lender pulls your credit record, an inquiry is recorded on your report.  Each inquiry can lower your score 5-15 points.  Credit should not be pulled more than 5 times per year.

3.   Close unneeded accounts. The less available credit you have, the less risk you will pose to a potential creditor or lender.  Allow for 2-4 credit cards for the best score.  Close all unused or unnecessary accounts.

4.   Keep your debt reasonable.  For a good credit score, your account balances should be below 75% of the available credit.  For example, if you have a $2000 credit limit, you should have a balance of $1500 or less.

5.   Take care of collection accounts. Make sure collection accounts are paid and listed as paid on your credit report.  You may be able to negotiate a reduced settlement with the collection agency to get a debt paid, but there may be consequences. 



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4222 East Camelback Road, Suite H-200,    Phoenix, AZ 85018

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