Rapid Rescore

Home » Uncategorized » First Step To Improve Your Credit Scores

First Step To Improve Your Credit Scores


Many people don’t know where to start when it comes to improving your credit scores.  Some consider paying off collections, paying off credit cards, or even applying for new credit.

Here are some useful tips on where you should focus your efforts when it comes to improving your credit scores:

  1.   If you are “past due” on any account, get caught up.  A past due balance reported to your credit can significantly lower your credit scores.
  2.   Pay down your credit card balances.  Credit card balances can drive your scores up or down depending on the balance percentage of the limit.  Pay your balances down below 30% of the credit limit to improve your scores.***Tip- most banks report your credit card balance to the credit bureaus at the time of your statement.  So pay down just before your statement date for quick reporting, and quick score increase.
  3.  Settle your collection accounts.  Collection accounts impact your scores as a unit, not a dollar amount.  So your $50 collection can hurt your scores just as much as a $5000 collection.  It’s based upon when the account was open and last reported.  So the newer the collection, the more of an impact to your scores…pay those first.
  4.   Opening new credit.  If you have no, or very little open credit it’s important to have multiple account types open and in good standing on your report.  Credit diversity is rewarded by a higher credit score.  A credit report that has 2 open credit cards and 1 installment account (auto loan, signature loan, etc..) has a higher credit score than a credit report that has 3 open credit cards (revolving accounts).  The ability to manage different account types reflects a higher credit rating.


To find out more about what can be done to raise your credit scores, feel free to contact me direct.


Jason Hall

President and Certified Credit Expert

Direct- 949.505.9971

Mobile- 808.633.5023

Fax- 866.567.8054



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: