Financial strategies that are effective in raising a credit score include disputing errors on a credit report, requesting the removal of negative items and paying bills on time each month. Another method is to obtain a new credit card and use it responsibly.
There are numerous ways to raise a credit score, and consumers can combine several methods to achieve this goal. A good start is to obtain a copy of the credit report and review it for errors. Consumers are allowed to dispute errors with credit reporting companies in writing. Removal of errors can raise a score by several points. Another way to get negative items removed is to contact creditors directly and negotiate a payment plan. In exchange, the creditor should be asked to remove the debt from credit reports.
The amount and regularity of debt payments also play a role in credit scores. Bill payment history accounts for 35 percent of the total credit score. Another helpful strategy is to make two monthly credit card bill payments instead of one. While it may be tempting to close a credit card account, doing so causes credit scores to plummet, so old credit accounts should be kept them open.