If you are someone who suffers from a low credit score you might be wondering how to increase your credit score. There are more than 43 million Americans who suffer from low credit scores but there are ways that you can make that score higher.
If you do not have a credit card then it is a good idea to get one. Even if you will not get approved from the company there are many companies out there that offer secured credit cards which can be a great tool to getting your low credit scores even higher. They way in which these cards work is you will leave a deposit on the card which will in turn be the amount of credit that is extended to you. By making small purchases on the card every month and paying the balance in full will do wonders for your credit.
When you already have lines of credit in your name it is important to not carry a big balance and to pay the cards down as much as possible. When you rack up large balances it will reduce your credit score greatly. It is also important to use your credit cards as lightly as possible because even if you pay your card in full every month those big balances can still hurt your score.
It is important to make sure that you are monitoring your credit scores as much as possible. This way you will be able to protect yourself from identity theft as well as knowing if a creditor has placed something on your credit that you need to dispute. You should also try to make arrangements with your creditors to pay off any outstanding balances that you carry so that you will be able to get the credit score you are trying to achieve.