How to Fix My Credit Score

Some people don't care about their credit, and they're not interested in raising a low score. Rather than take the necessary steps to fix a low credit score and get the best rate on loans, they accept a low rating. But you don't have to. If you want to fix your credit score and get approved for a home loan or auto loan - here's how:

Instructions

1. Develop a plan to pay down your debts. Owing thousands of dollars on a credit card or having maxed out credit accounts will reduce your credit score. To raise a low score, consider ways to eliminate your debts. Cut out extra spending or look for ways to make extra money. If you own a home, explore home equity options.

2. Stop paying your bills late. Many factors contribute to credit rating; and paying your bills late is a surefire way to reduce your credit rating. To fix your credit score and obtain future financing, do your best to submit timely payments to your creditors.

3. Decline credit card offers. In-store charge accounts are tempting - especially since you'll likely save 10 percent or more on your purchase. Yet, credit inquires reduce your credit score and they stay on your report for two years. Anyone who wants to fix their credit score ought to limit credit inquiries.