 TITLE: How to “Fix” a Bad Credit Score CONTENT: Credit scores aren't static; they change when the information in your credit report changes. That means you can take control of your financial health now, and make moves that will positively affect your credit scores. Here's how.\n### 1\\. Check Your Free Credit Score\nFirst, check your credit score for free to view the factors that are most affecting it.\nYour credit score is most impacted by the following elements:\n*   Your payment history (35%), including whether you always pay bills on time or have had late or missed payments in the past.\n*   How much total credit you have available and how much of it you're actively using, known as your credit utilization rate (30%).\n*   How long you've been using credit (15%).\n*   The mix of credit types you've had and are currently using (10%).\n*   The number of recent credit accounts you've opened and applications you've made, which are known as hard inquiries (10%).\nIt's also important to check for any errors on your credit report, including inaccurate personal information or accounts fraudulently opened in your name. Especially if it's negatively affecting your score, dispute this information with the credit bureaus. Submitting a dispute does not affect your credit itself. But if any content in your report changes, your score could change too.\n### 2\\. Pay Your Bills on Time\nPayment history is the largest contributor to your credit score, accounting for 35% of your FICO® Score. One of the best ways to ensure you're never late is to set up autopay for recurring bills, such as student loans and car payments. Your bill will come directly from your bank account on the day it's due, meaning you don't have to remember to log in to a payment portal or send a check. Ensure you have enough money in your checking account to cover your payments, though, or you could be subject to fees.\nIf many of your bills are due on the same day of the month, making it more difficult to pay them on time, you may be able to change the payment due dates with your creditors. Keep in mind, though, that it may take a few billing cycles for the change to go into effect. So continue paying as required until they've confirmed the update.\nIt's also important to be upfront with creditors about your ability to pay. Federal student loans, for instance, come with alternative payment plans that can lower the amount you owe each month. But you may not know about them if you're not willing to contact your student loan servicer about your options. Credit card issuers also may be able to reduce your payment or interest rate for a period of time if you're experiencing financial hardship. If you're concerned you're going to miss a payment, contact your creditor before it happens to explore what's possible.\n### 3\\. Pay Down Debt\nAmounts owed make up 30% of your FICO® Score, the next largest share after payment history. The amount of your credit limit you're currently using is expressed at your credit utilization rate, and experts recommend using no more than 30% of your credit limit at any point.\nIdeally, you'll pay off your credit card bill in full at the end of every month. But if you can't, and you're currently carrying a balance, make a plan to pause using your cards and pay down credit card debt. You may want to send extra money to the highest-interest card first, known as the debt avalanche method, which will save the most money in interest. Or you can pay off small balances using the debt snowball method, which may motivate you more.\nA balance transfer credit card may be a better option if you need more time to get your balances down. If your credit score qualifies you for one, a balance transfer card provides an interest-free period that lets you pay off your balances without accruing as many charges over time.\nTo make the most of the card, though, come up with a plan that gets you debt-free within the interest-free time frame. Otherwise, you'll be subject to interest charges at the end of that period, potentially negating some of your savings.\n### 4\\. Avoid New Hard Inquiries\nIf you're focused on increasing your score, you may want to delay applying for new credit in the meantime. A hard inquiry happens when a lender checks your credit to evaluate you for a financial product. It will appear on your credit report and may affect your credit score. That's because lenders could consider you a greater credit risk if you're attempting to borrow money from many different sources. Applications for new credit account for 10% of your FICO® Score.\nSoft inquiries don't affect your credit; they occur when you check your own credit score or when a lender or credit card issuer checks your credit to preapprove you for a product. It's also likely you won't see a major effect on your score if you're shopping for a single auto loan or mortgage and apply with multiple lenders in a brief time period. Scoring models distinguish this process from, say, opening lots of credit cards at one time, and typically won't penalize your score the same way.\n### 5\\. Boost Your Credit\nOne way to strengthen credit using your existing financial history is through Experian Boost™† . When you sign up for free, Experian searches your bank account data for utility, phone and cable payments, and you can choose which accounts to add to your credit file. Once the accounts are added, a new credit score is instantly generated. Those who have little or poor credit could see an increase to their FICO® Score thanks to the addition of new positive payment history.\n### 6\\. Get Help Building Credit\nIf you're having trouble getting approved for a credit card or loan on your own, you can build credit history with the help of others or with a secured account. Try these strategies:\n*   Become an authorized user on someone else's account.\n*   Work with a cosigner who has good credit. When you have a cosigner for a loan or credit card, the lender also considers them jointly responsible for the debt.\n*   Open a secured account. With a secured credit card account, you place cash in an account and the card issuer allows you to borrow up to a certain percentage of the money. END