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SOURCE: MyFICO

6. Keep your debt/credit ratio low. If you have a credit limit of $8,000
and your outstanding debt is $6,000, your utilization rate is 75%. If you
lower that number to 30%, you can increase your score.
7. Watch out for hard inquiries. These are generated from creditors
that have requested a look at your credit file to determine how
much risk you pose as a borrower. Several of these over a short
period of time can be harmful to your score, as it could suggest you
are in financial hardship.
8. Become an added authorized user. If you have a family member or
friend with a positive payment history and credit, ask that they add
you as an authorized user on their account. This can help you elevate
your score on your own credit reports.
9. Raise your credit limits. If you cannot maintain a 30% credit utilization,
try increasing your credit limit. If you have a good history of timely
payments and improving credit scores, many creditors will consider
increasing your maximum credit limit.
The act of increasing your credit score can open up a new world of financial
opportunities. The stress of worrying about getting that home, car loan or
credit card you have always wanted can be alleviated. n

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