 TITLE: Why Do You Want a Good Credit Score? CONTENT: How Can I Improve My Credit Scores?\n-----------------------------------\nWhile each consumer likely has dozens, if not hundreds, of credit scores, the good news is that what makes scores go up or down across different models is almost always the same. It's just that different models may apply different weights to certain factors.\nThere is no secret sauce to getting good credit scores. Generally speaking, the best way to improve your credit scores is to do the opposite of what caused them to go down in the first place, and give yourself enough time for them to improve. While each scoring model gives different weight to the factors that affect your score, there are usually seven factors that go into determining your scores:\n*   **Payment history**: This is typically one of the most important factors—roughly 30% to 35%—in determining your score in most scoring models. Late or missed payments bring your credit score down. Conversely, if you have a long history of paying your bills on time, your score will generally be higher. The most important thing you can do to boost your credit scores is to pay all your bills on time every month. If you establish a pattern of doing this over time, your scores will improve.\n*   **Credit utilization ratio**: This is the amount of revolving credit you're actively using compared with the amount of credit available to you, based on your credit card limits. The lower the ratio, the higher your credit score. Aim to keep your utilization ratio under 30%, but for the best scores, you'll want to keep it under 10%.\n*   **Number of accounts**: Credit scoring models also look at how many credit accounts you have open and on how many you carry balances. It's better to have more accounts that don't have a balance than ones on which you do carry a balance.\n*   **Credit history**: Most scoring models also look at how long you have actively used credit. They typically look at the average age of all your open accounts. The longer your credit history, the better it is for your score. You can't do much about this one, other than let time do its thing.\n*   **Credit mix**: Scoring models also take into account what types of credit you have, including installment loans and credit cards. To improve your credit score, aim for a good mix of different types of credit.\n*   **Hard inquiries**: When you apply for a new credit card or another kind of loan, the lender will request your credit report. That is considered a \"hard inquiry\"—and too many can lower your score slightly. However, multiple inquiries of the same kind—if you're shopping for a car loan, for example—during the same period are often treated as one inquiry. The impact of hard inquiries goes down the older the inquiries are.\n*   **Negative credit information**: If your credit report has negative financial information, like a bankruptcy or collection account, that can negatively affect your credit score, as well.\n* * *\n**Want to instantly increase your credit score?** Experian Boost™ helps by giving you credit for the utility and mobile phone bills you're already paying. Until now, those payments did not positively impact your score.\nThis service is completely free and can boost your credit scores fast by using your own positive payment history. It can also help those with poor or limited credit situations. Other services such as credit repair may cost you up to thousands and only help remove inaccuracies from your credit report. END