If you are saying to yourself that I want to improve my credit score then here are some tips and suggestions that can help you achieve this goal.
To begin with you will have to get your credit report and see how the accounts are being reported by your creditors to the credit bureaus. It is quite possible that you are making timely payments on your accounts but the creditors are not sending those details to the credit bureaus thus affecting your credit score. In such situation you need to send a letter by certified mail to your creditor with required documents proving that your payments are up to date and that they should send the correct details to the bureaus.
Secondly if you have accounts in collection and you want to pay them off to improve your credit score then first check how old the accounts are. As the older an account goes the lesser its impact is on your credit score. Another thing is that if you make even a single payment on your collection account then it resets the seven year clock for which collection account remain on credit report. So if a collection account is old and about seven years old then you should not make any payment on it as it will automatically get removed from your credit report within some time. You need to look at current collection accounts and make an agreement with the creditor about payments on such account. In the agreement make sure that it is mentioned that the creditor will remove the account from your credit report after all the payments as agreed are made. This way you will be able to gain credit score points from removal of collection account.
Another simple but effective way by which you can increase your credit score is by disputing errors in your credit report. If you dispute an entry in your credit report with the credit bureaus, the bureaus send that dispute to the creditor, its creditors responsibility to rectify the error and reply back within 30 days to credit bureau which had send the dispute for investigation. If the creditor does not reply back within the stipulated time frame then the credit bureaus are obligated by laws to remove that entry from your credit report. By disputing wrong entries and subsequent removal of such entries from your credit profile you will be able to improve your credit score within a short period of time.
With the goal; improve my credit score, your next effort should be to maintain regular payments on all your debts as this is the most important factor which is used in deciding credit scores with 35% share of all the factors which play a part in your credit score. The other factors which play their role in deciding your credit score are, your overall payment history, type of credit accounts you have and the outstanding balance on your credit accounts. If you can keep your credit accounts in good standing overtime then it will be easier to achieve the target – improve my credit score.