There is more than one way to build up your credit score when you’ve run into some credit trouble. Many will tell you that you should pay your bills before the statement date. Doing so will show the credit agencies once and for all that you can handle your money. When you do it consistently, your credit score will raise with your confidence.
Another suggestion is to cut down the number of credit cards you have. Multiple lines of credit are a sign of unrestrained use of resources. Companies may think you are a bit reckless with your money and can’t balance your budgets properly. Reducing your credit cards to just one could bring up your credit integrity again.
Although both of these things will help you, you can tweak them just a bit to improve your credit faster.
Instead of paying your bills well before the due date, pay them on the date they’re due. Paying back your debt on the day its due will show the company that you don’t panic with your payments, but you spend adequate time preparing to pay it off—i.e. practicing self-control to save for the due date.
Instead of reducing your lines of credit down to one, trim them to just two or three. Operating and properly maintaining two to three lines will show creditors that you are doing well at managing your finances.
When you adjust these two pieces just a bit you can make a major improvement in your credit score faster than you would have. The process is a bit riskier. What if you forget to pay your bill on the day it’s due? What if you forget about a bill because you forgot you purchased something with that second credit card? These are both risks that you need to be aware of and prepared for. The more aware you are of these things though, the more trustworthy you are to creditors. They want you to be good at it. That ensures you will pay off your debts.