What Are Your Credit Scores? Do’s and Don’ts to Get Your Scores Up

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Last Updated: Jul 30, 2016

Credit scores; we have all heard of them but very few of us know exactly what they are. In this section, we get to know what credit scores are and why you need to get yours up as much as possible. In essence, a credit score is an estimate of your credit risk based on your credit report. It shows clearly your credit payment patterns over a given period of time, putting greater emphasis on the recent information. Look at it like a driving record. If you are looking to get a loan or some assets through credit, then lenders will use your credit score to determine whether you will be able to pay back in time and consequently influences greatly whether you get the loan or not. For those people who have a high credit score, they are given better interest rates as compared to the rest. Do you now see why you need to get your credit scores high? No?

Anyways, credit scores are important to all of us. At some point in life, you will need to take something on credit and with a positive credit score, you will be sure to get a convenient deal. So how do you improve your credit score? Below are some do’s and don’ts that will make it rise as time goes by. You will have to implement them in your financial life first, of course.


1. Decrease Your Debt

Decrease Your Debt

I understand that people don’t put themselves in debt on purposes. Sometimes it seems like the only way out. However, note that decreasing the amount of debt you owe others is a great step towards improving your credit score. Try as much as possible to reduce your credit card debts and other personal loans that you might be having. Also, purpose to pay debts rather than moving around them.

2. Pay Bills On Time

There is nothing that says more how incapable you are financially than paying bills late. Paying you bills on time is the most important step towards improving your credit score. It doesn’t matter how small your debt is, ensure you pay your bills on time otherwise your credit score will suffer for it. According to Linda Sherry, the director for national priorities for consumer Action, paying your bills late hurts your credit score.

3. Pay A Little More Above The Minimum

When paying for your credit card, adding a few more bucks in there will help improve your credit score. It is also a great way of reducing your debt. Also, note that paying only the minimum amounts will increase the amount of time you take to repay that debt.

4. Keep Up With Your Credit Report

Keep Up With Your Credit Report

Get a copy of your credit report regularly. It is an excellent way of monitoring your credit history and will help you take steps to reduce unnecessary spending and improve your credit score. With time, you will be able manage your finances properly after getting the spending and payment patterns. Financial breakthrough is what we are all looking for at the end of the day. That is what you get eventually.


1. Don’t Apply For Credit Needlessly

Only apply for credit when you are in need. First of all it increases your debt and also may trigger you to get higher interest rates on a given loan or a line of credit.

2. Don’t Make Credit Card Payments Late

Don't Make Credit Card Payments Late

Just like paying your bills late, making credit card payments late will also hurt your credit score. Deadlines are always set on time and credit card companies won’t be smiling if you default for even a day. The good news is that early payments make your credit score improve so really you have every reason to do so.

3. Don’t Close Old Credit Card Accounts

As much as you may feel that doing so will decrease unnecessary spending, it is not always the case. On the bright side, keeping them open will boost you credit-debt ratio and consequently improve your credit score. Keep these accounts open as this is what most credit bureaus use to determine your credit score.

You May Also Like: Things You Shouldn’t Pay With Your Credit Card


As we have seen, high credit scores are important to each and every one of us. Visit any credit bureau for a credit report when applying for any form of loan (mortgage, student etc). High credits score can be used as a bargaining power, ensuring you get the loan on time and at low interest rates.

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