14 Really Practical Tips That Can Help You Get A Healthier Credit Score

It takes time but you can do it.

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Having a low credit score can be really stressful. Trust me, I know from experience. My score used to be in the "poor" range and it made necessities like applying for an apartment feel totally nerve-racking.

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I've made some changes since then, and by cutting down my debt and paying my bills on time I've managed to bring my scores up to around 700, which is about the middle of the "good" range.

So if you have a low credit score and want to rebuild it, here are 14 things you can do starting today:

1. Make all of your credit and loan payments on time, every time.

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This is literally the most important thing you can do to get your credit scores up. Here's why: Your credit scores are calculated from information found on your credit report and your payment history counts for the biggest piece of that pie (and for your FICO credit score, which many major lenders look at, it makes up 35%!). It takes time to raise your credit scores, but making every payment by the due date will make a huge difference.

If you tend to be forgetful, it might help to set some bills on auto-pay or put reminders on your calendar. Just find a system that works for you so you never miss a due date.

2. Check for errors on your credit reports.

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Have you looked up your credit report lately? If not, it's possible that fraudulent info or mistakes on your report could be dragging your credit scores down. Use a free service like Experian to check yours out and dispute anything that's not reported correctly.

3. And see if you can get negative information removed.

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If there's information on your reports that's harming your scores but it's not fraudulent, you still might be able to negotiate it off your reports. For example, let's say you missed a credit card payment a couple of years ago after losing a job. If you've been making consistent on-time payments since then, you might try sending a letter to your credit card company explaining why you missed the payment and asking them to report on your payment history more favorably. This is called a goodwill letter, and NerdWallet has a nice sample letter you can use as an outline.

4. Consider opening up a secured credit card.

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If you have a lower credit score (or no credit at all), you can use a secured credit card as a credit-building tool. To open a secured credit card, you will have to make a deposit up front that's equal to the card's credit limit; so if you put down $500, then you'll have a $500 spending limit on your card. The credit card company holds on to your deposit as collateral in case you don't pay your bill.

If you make timely payments and keep your balance low, then you'll be building a positive credit history and helping your credit scores. One simple way to do this is to just put one small regular bill on this card each month (think your Netflix subscription) and always pay it off. Eventually, you might be able to graduate to a non-secured card and get your initial deposit back.

BTW, if you have questions about credit cards or just want to brush up on your knowledge, check out these 21 things I wish I'd learned about credit cards in school.

5. Or look into getting a credit-builder loan.

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Another way to start building more positive payment history on your credit report is by using a credit-builder loan, which you can get through a bank or credit union. Basically, you'll make regular monthly payments for a set amount of time, which will get added to your credit report. Once the loan is up, you'll get access to your money. Credit-builder loans tend to be the most helpful if you don't already have installment loans on your credit report.

6. Ask someone to cosign for you if you need to.

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If you need access to credit for something like renting an apartment or buying a car, you can ask someone with a higher score to cosign for you. But you should know that this is a pretty big favor; because if you can't make payments, then your cosigner will be on the hook for your debt. And if that happens and they can't or won't pay, then both of your credit scores will suffer. But on the other hand, if you make timely payments on your cosigned loan, then those will be factored into your credit score and you could see an increase in your scores.

7. Ask a loved one with a higher score if you can be an authorized user on their credit card.

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Becoming an authorized user is a relatively quick and easy way to give your credit scores a bump. But just like asking someone to cosign for you, it takes a lot of trust. When you become an authorized user, someone with a higher credit score adds you to their credit card account. This adds their credit card to your credit report, which can help your score. Just keep in mind that if they miss payments on their credit card, your score could dip back down again too.

8. And work on lowering any credit card balances that you're carrying.

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If you're carrying credit card debt, paying it off can help you get your credit score into the healthy range. For your FICO credit score, your credit utilization (aka how much of your available credit you're using) counts for 30% of your score. So, the lower you can get your credit utilization, the better. Generally, if you're aiming for a "good" credit score, then you'll want to get your utilization down to 30% or lower. This means that if you have a $1,000 credit limit, you should try not to have a balance higher than $300. For some tips on slashing credit card debt, check out these strategies that people say helped them pay off their cards.

9. But don't close your credit card once you've paid it off.

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You'd think that after finally paying down your credit card balance it would make sense to close your account, but doing so can actually hurt your credit scores. Closing an account wipes the payment history from your credit report, can lower your total available credit — which ups your utilization — and it can also reduce the average age of your accounts. So unless you're having a hard time resisting the call of your credit card, it's probably a good idea to keep it open.

10. See if using Experian Boost to add your streaming subscriptions and utilities to your credit report will help your score.

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If you're looking for a way to instantly improve your credit score, Experian Boost just might do the trick. All you have to do is create an Experian account and connect it to the bank accounts and credit cards that you use to pay your bills. It scans your account and adds your on-time bill payments (for things like your cellphone, Wi-Fi, and even your Netflix subscription) to your credit report. This can give your payment history a little ~boost~ and add a few points to your FICO score 8.

It won't pump up all of your credit scores and it doesn't work for everyone, but for those who do see an increase, Experian says they gain an average of around 13 points. I tried Boost recently and my score shot up 30 points. It's also totally free, so it could be worth giving it a try.

11. If you work for an employer, see if they offer student loan repayment as a benefit.

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If paying off student loan debt is keeping you from getting ahead on other debts, like a credit card, then looking into other student loan repayment options could help you free up room in your budget. Some employers already offer student loan repayment as a benefit.

If your company doesn't offer this benefit, you could let them know that under the CARES Act, they can help employees pay off up to $5,250 a year in federal or private student loan debt. And in exchange for helping with your loans, your company gets a tax incentive: It's a win-win situation. This program was originally set to expire in December 2020 but it's been extended through 2025, so it's definitely worth asking about.

12. But don't get too focused on paying off installment loans. Your score might actually drop when your loan ends.

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Unfortunately, when you pay off a loan, that account drops off your credit report, which can affect your credit mix, the age of your credit, and your payment history. There are other benefits to paying off a loan early, like paying less interest over the life of the loan; but if you're laser-focused on raising your credit score, it might be best to stick to your payment plan.

13. If you have collections, make sure they'll actually be removed from your credit report before you pay them off.

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Having an account go to collections is no fun and it can hurt your credit scores, but paying off a collection only to find it's still on your credit report is a double bummer. Before you pay a debt collector a single cent, get a written agreement that they'll either remove the debt from your credit report or mark it as paid.

14. And if you get a new collections notice that doesn't seem quite right, send a letter to verify it.

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If you get a collections notice for an account that you don't recognize, you can send a debt validation letter to verify it. If the collector doesn't respond, then under the Fair Debt Collection Practices Act they can't continue to try to collect on the debt and it should be removed from your credit report.

Is there something else that's helped you rebuild your credit score? Tell us all about it in the comments below.

And for more money tips and tricks, check out our other personal finance posts.