If you know your credit score, you have already taken the first step in being able to “fix my credit score.” You don’t want to find out that you have a low score while you are trying to take out a loan for a new car. Then it is too late, you will have to accept the poor terms of the loan or walk away without your new car. When you know your score, you have a baseline for what it is you are trying to improve.

Now you may be asking, what is the next step to fix my credit score? Well, you have to take a look at the factors that influence your credit score. Most important is that you pay your bills on time and you get caught up on any delinquent accounts so you can erase those past due amounts on your credit report. When you are having trouble making payments try calling the lenders, they may be willing to help you work out a solution with a payment schedule that will fit in your budget.

What if you are paying your bills on time, but you just have a high balance on your credit cards? Again, call the lender. You might be able to increase your spending limit which will, in turn, increase your credit score. If your limit is increased, you must be disciplined and not fall into the temptation to use that extra credit available. When you lower the ratio of credit balance to credit available you will be on the path to your goal to “fix my credit score.”

When you have your credit cards under control, you will want to look to other types of debt to improve your credit scores. You might be confused at this point, thinking how will more debt help me to fix my credit score? Well, the credit bureaus reward consumers who have a good mix of loans. Meaning if you have a mortgage loan, a car loan, a student loan, and just a few credit cards you will actually have a better score than someone with no debt at all. Of course, this only holds true if you pay these bills on time every month. One thing about credit scores you need to keep in mind is that they won’t improve overnight. However, if you are patient and follow these tips, you will begin to see your scores move in the right direction.