Improving Credit Scores

Raising your credit score, like improving your credit history, takes time and responsible credit behavior. Creditors look for stability in your credit history.

Your credit history shouldn't look like a seesaw. Stability is key. Erratic behavior such as sudden increases in debts or many applications for new credit can lower your credit score. There are things you can do to make a difference. You can improve your credit score by:

Keeping It Clean

Check your credit report for accuracy. Report any errors immediately.
Pay off all collection accounts. Remember that negative credit information can stay on your credit report for 7 years.
Pay your bills on time. If you missed a payment recently, bring the account current. Don't be late again.

Limiting Yourself

Keep your credit card balances low.
Don't have too many credit cards.
Don't open several new credit accounts just to increase your available credit.
If you're trying to establish credit, don't open too many accounts at once.

Taking It Slow

Pay off debt rather than moving it around from account to account. Your credit history shouldn't look like a seesaw. Stability is key.
Don't close unused credit cards as a short-term strategy to raise your score. Closing an account doesn't make it disappear from your credit report.


    Fannie Mae
    Freddie Mac
Ginnie Mae


Discussion Forum

Recent Posts -


Home Loans
Homeowners - get fast, easy & free online mortgage answers.

Compare Mortgages

Search MortgageSector for Low Rate Loans! Get Info & Apply online here.

Save Online

Compare offers on interest on adjustable mortgages. Get Started now!




By visiting Allie Mae you have taken your first step toward becoming an educated borrower. Allie Mae is an objective, independent source of information for the mortgage consumer. Whether you are buying a home, refinancing, taking a home equity loan, building a home or in need of a mortgage for any purpose, Allie Mae is here to help. Allie Mae has helped thousands of people with their mortgage needs. We have a complete selection of articles, charts, calculators, and checklists designed to help you through the mortgage and home buying process.

© 2004 Copyright AllieMae. All Rights Reserved.
Privacy Policy   Legal  Terms & Conditions   Webmaster   Site Map    Application
About   Contact Us   Forum   Dictionary   Calculators   Articles   Free Content