How to improve your credit score

Your credit score is a three-digit number that represents your creditworthiness. A high credit score means you're a low-risk borrower, which could lead to a lower interest rate on a loan. A low credit score could lead to a higher interest rate and could mean you won’t be approved for a loan at all.

You can improve your credit score by paying your bills on time, maintaining a good credit history, and using a credit monitoring service.

Paying your bills on time is the most important factor in improving your credit score. Payment history makes up 35% of your FICO® Score, so it’s important to keep your payments up to date. You can set up automatic payments with your creditors to make sure you never miss a payment.

Maintaining a good credit history is the second most important factor in improving your credit score. Credit history is the history of your borrowing and repayment habits. It makes up 30% of your FICO® Score. To build a good credit history, make sure you always pay your bills on time and don’t max out your credit cards.

Using a credit monitoring service is a good way to stay on top of your credit score. Credit monitoring services can help you track your credit history and identify any red flags that could lead to a lower credit score.