Upping Your Score

How Can You Increase Your Credit Score?

Here are my best tips to boost your score

Frequent Payments

Make more frequent credit card payments (2-4x/month).

Let’s say you have a card with a $1,000 limit, and you always spend $500/mo on that card. Remember how we want to keep your utilization ratio under 30%? If you only made one payment per month, your utilization ratio would be 50%. This would negatively impact your score. But, if you pay the bill twice a month your balance will never be higher than $250, making your utilization ratio 25%

Ask For a Credit Limit Increase

Ask your credit card company for a credit limit increase (though don’t do this if you’re going to use that higher limit to accumulate more debt, k?). Make sure they only do a “soft credit pull” for this. This is a totally normal thing to ask your bank for — and they’ll often even increase your credit limit automatically.

Check for Errors

You’d be surprised how often errors can pop up on your credit report. Maybe you’re still an authorized user on your ex’s card, or a debt that’s been paid is showing up as overdue. Take a close look through your credit report and make sure there aren’t any issues — and if there are, contact your bank and the credit bureaus to get it taken off your credit report.

Keep Paying Down Debt

The best thing for your credit score will be paying down credit card debt. I know it can be a long slog, but there’s a light at the end of the tunnel! My clients will often have their credit score improve by 50+ points within months, once they’re really focused on paying down debt.

Okay…But what’s next?

If you want customized help figuring out how to increase your credit score, let’s chat! Schedule a call with Beyond Money, and let’s get started!