Before we delve into the easiest ways to improve your FICO credit score, here is just a brief history on how this whole system came into being. Don’t worry, this won’t take long. FICO or what is now known as The Fair Isaac Corporation, was founded in 1956 as the brainchild of engineer Bill Fair and mathematician Earl Issac and marketed as way for lenders to determine your credit worthiness based on mathematical formulas.

To this day, even though other scoring systems are making inroads in the market, your FICO credit score still is being used by a majority of US corporations to asses the credit risk on an individual.

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Now, since that is out of the way, let’s delve into some of the easiest ways that you have at your disposal in order to start raising your FICO credit score.

  • Pay Your Bills On Time! – one of the simplest and easiest ways to start your FICO credit score moving in a positive direction is to discipline yourself to make sure ALL of your bills get paid either early or on time. Don’t get into the mindset that being a few days late is no big deal, because in reality it is and will adversely effect your overall credit score.
  • Strive to keep your balance low in relation to the amount of available credit that you have at your disposal. – The more balance you owe, the more you are viewed as a possible risk to lenders. So in other words, keep working on bring you balances down.
  • If Possible, Make More Than The Minimum Monthly Payment – Not only does this reflect as a positive in your FICO credit score but with today’s rising interest rates, this just makes common sense.
  • Avoid The Temptation To Open Up A Lot Of Credit Accounts Over A Short Period Of Time – Yes, this can be tempting but you need to shy away from this type of activity, even more so if you only have a short credit history to begin with.
  • Pay Off Credit Card Debt, Don’t Just Move it Around! – This can also be very tempting, especially if you are getting bombarded with credit card offers that try and entice you with a low introductory APR. You have to discipline yourself to resist this behavior at all costs.
  • Check Your Credit Report On A Regular Basis – This was put in here to remind you that checking your credit report should become a habit at the minimum of at least once a year. After all, by law you are entitled to a copy of your credit reports for free, from each of the 3 credit reporting agencies, once a year. So use this to your advantage.

If you develop a plan to raise your FICO credit score and have the discipline to stick with it, your efforts will soon start paying off by increasing you overall score. But don’t be discouraged that it doesn’t happen overnight. It will, just be patient.

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