Michael Petruccelli asks; What are some tips for giving your credit score a boost? (9)

Michael Petruccelli says;  Pay on time

If you have past due accounts on your credit report, pay them now and then keep your accounts current – and that includes everything, not just credit cards. Cell phone bills, utility payments, and even rent can appear on your credit report. Don’t be late.

Michael Petruccelli asks; What are some tips for giving your credit score a boost? (8)

Michael Petruccelli says;  Don’t apply for credit before a big purchase

Don’t apply for a new credit card or loan six months to a year before you plan to make a big purchase – like buying a house.

Michael Petruccelli asks; What are some tips for giving your credit score a boost? (7)

Michael Petruccelli says; Don’t close accounts

The length of credit history makes up 15 percent of your credit score. Closing old accounts will shorten your credit history and hurt your score. If the card has no annual fee, keep it open.

Michael Petruccelli asks; What are some tips for giving your credit score a boost? (6)

Michael Petruccelli says;  Raise your credit limit

If you can’t pay down your balances, ask your credit card company to raise your credit limit – and don’t put any more debt on the card. By upping your total available credit, you’ll lower your credit-to-debt ratio and increase your score.

Michael Petruccelli asks; What are some tips for giving your credit score a boost? (5)

Michael Petruccelli says;  Pay down credit card balances

The amount you owe makes up 30 percent of your credit score. In the video, Stacy suggests paying down your credit card balances to no more than 30 percent of your available credit limit. For example, if you have a $1,000 credit limit, don’t carry a balance higher than $300.

Michael Petruccelli asks; What are some tips for giving your credit score a boost? (4)

Michael Petruccelli says; Find and dispute mistakes on your credit report

First things first: Order a free copy of your credit reports from AnnualCreditReport.com. By law, the Big Three (Experian, Equifax, and TransUnion) have to give you one free copy a year. Order one from each every four months, then dispute any errors – they’re not uncommon. A study by the Policy and Economic Research Council found errors in 19 percent of the credit reports they looked at.

You can dispute errors online through each bureau:

·         Equifax

·         Experian

·         TransUnion