It takes time to improve credit rating and there are no shortcuts to establishing good credit. Your credit score is calculated by a number of factors such as payment history, amount of time you have had credit, the amount you owe and much more. Here are some tips that will help you improve credit:
- Do not overdraw your bank account. You will be charged fees, and you can damage your credit record.
- Do not miss payments on bills or loans. Late payments count against you.
- Do not let other people use your bank account, credit card, debit card or ATM card. You are responsible for what they do with it.
- Do not forget to account for recurring bills on your credit card, such as subscriptions or club dues.
- Always close out or transfer all accounts (gas, water, telephone, electric, cable) before you move. If accounts are in your name, they’re still your responsibility.