Don't despair if you have a low credit score. With time and discipline, you can dramatically improve it. Make a commitment to limiting your use of credit. Use the following advice to improve your score.
- Check your credit reports and dispute any inaccuracies. Fixing problems can raise your score. Checking your own credit report does not affect your credit rating.
- Pay off accounts that are with collection agencies. This will not remove them from your credit report, but your score should improve when the accounts are shown as paid.
- Pay your bills on time.
- Pay off debt rather than moving it around. Don't close the accounts. Closing an account doesn't erase it from your credit history. A longer credit history helps increase your score.
- Maintain low balances on credit cards.
- Don't open new credit card accounts just to increase availability of funds.
- Contact your lenders if you are struggling to pay your bills.
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