FiLife - Your Financial Lifeline

Your Financial LifelineTM

In partnership with The Wall Street Journal
 
 

This answer is from When will my credit score start increasing again? I took out a $1,000 loan for my sister on a 6 month payment plan and she paid 4 out of th

Dean Binder
FiLife Contributor
11 months ago

The best way to improve your score is to pay down your revolving/credit card debts. Instead of closing your credit cards, pay them off and keep the account open. Closing the account will decrease your capacity. Continue to make payments on time. Slow down on opening new accounts. If possible move your revolving debt to installment debt. Lastly, keep doing the things above for a long time and you will acquire a long credit history.

Is this helpful?

Yes

(0)

No

(0)

Permalink | Abuse

Login, Join or login with   or

Ask a Question

140 characters

Personal Finance News

Receive our Personal Finance Newsletter

Stacker Poll of the Day

What age should you start your child's allowance?

Avg 8.4
 
Avg 8.4
 
528 responses