- 1). Check your credit score and report through an online website such as annualcreditreport.com. Enter your full legal name, Social Security number, credit card information, address and date of birth to verify your identity. Credit card information is required to both verify your identity and charge any associated fees. This federally supported website gives you free access to your credit report once per year. However, payment is required for additional reports and your credit score.
- 2). Check your report for errors. The website enables you to notify the credit bureau of any erroneous information directly through their online portal. The credit bureau is required to respond to your error report within 30 days via email. Removing erroneous line items can quickly raise a credit score.
- 3). Note any negative items on your credit report. These include liens, judgments, collections, bankruptcies and late payments. Bring any current late payments up to date and pay any outstanding liens, judgments, collections and bankruptcies in full to reduce their impact on your score.
- 4). Pay down credit cards to less than 30 percent of their limits to lower your credit utilization. This has an almost immediate effect of raising your score. However, do not shut down your credit cards. Closing your credit cards limits your open credit history and can cause your score to drop.
- 5). Move your credit card debt to an installment loan to lower your interest expense and pay down your credit card debt faster.
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