What is the most effective way to raise my credit score?

Public Comments

1. PAY YOUR BILLS ON TIME EVERY MOUNTH!
2. use your credits....pay your principal all off by the end of the month on time. but be careful not to go frenzy on spending...it's very easy to get into debt...
3. most effective way is to establish NEW good credit. Get 3 credit cards, rotate their use. put something simple, like gas, on it and pay it off when you get the bill. then switch cards and do it again. also, make sure that you never run your balances past 50% of max limit. and most important... pay everything on time.
4. Aside from the obvious, there is actually a "formula" of sorts. People with high credit scores have the following: Credit Card: 50% of max or less (2 of them) Monthly expense: amex, or gas card paid in full each month. Mortgage installment (car, boat, motorcycle, or whatever) stay away from the store credit cards and the obvious...pay your bills on time each month. Do not apply for many cards. The more inquiries you have, the lower your score will go. So the key is, keep your revolving debt down below 50%. That is what really kills people when trying to qualify for real estate loans.
5. If you don't already have a credit card, get one. Pay more than the amount for minimum amount on all your credit cards, even if its only 1 cent because when they pull up the credit history stuff, all it states is that you paid more than the minimum and not how much more. Don't let your credit card amount go above 50% of the limit. Pay your credit card bills on time. Don't run your credit too often or at all if you can help it. Have more than one credit card.
6. the 50% rule is the best rule. keep your balance to credit limit at 50% or lower, this speeds up your credit rating,. ditch the store cards for major credit cards. and the worst thing to do to your credit is to pay >30 days late on a mortgage, this drops your credit score severely and remains for up to a year.
7. -don't have more than 3 credit cards -pay your bills on time every month -keep balances under 50% of your credit limit -charge smaller items, like gas or eating out, then pay in full when the bill comes...it shows you're responsible...
8. Pay your bills on time every month is the best way.