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Five ways to boost your credit scoreWith the huge amount of information about credit scores out there, it can bedifficult to figure out what 'tips' will actually help your credit. Here are five proven,relatively simple ways to raise your credit score.

By Tracy Becker, NerdWallet (http://www.nerdwallet.com) MARCH 30, 2015

You can find a huge amount of information about credit scores, and it can

be very difficult to figure out what will actually help your credit. Some

credit “tips” have little impact on scores, while others can even harm them.

Fortunately, there are some relatively simple ways to boost your score. Here

are five moves to consider now.

Focus on your score — not your income

As a credit expert, I encounter hundreds of high­net­worth individuals who

assume they have a great credit score because of their wealth. But your

income has nothing to do with your credit score. If you have $7 million in

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the bank but are late on your credit card payments, your credit score will

still be poor. Missing a payment will affect anyone’s credit score. So make

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Keep a good balance-to-credit-limit ratio

When you want your credit scores to be as high as possible — for example,

when you are applying for a mortgage — keep your outstanding balance on

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Become an authorized user

If done correctly, being added as an authorized

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average age of credit accounts has an impact on

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In addition, some card issuers reward

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Pay attention to when balances are paid off

Many people assume that when they pay off

their balance on a credit card, that fact shows

up right away in their credit score. But most

credit card companies report customer

balances to the three major credit bureaus at

the beginning of each month, and it can take

30 to 60 days for your credit score to reflect that. Use this knowledge before

deciding when to apply for a mortgage or personal loan. A higher credit

score can help you win better terms on a loan.

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Look into credit repair, but carefully

Using the right credit repair expert can help you see improvements in your

credit score. There are complex laws involving creditors, credit bureaus,

collections companies, judgments, tax debt and more. A seasoned expert

can help you navigate this confusing maze, and you may be able to see a

boost in your credit score of 10 to 200 points in just months.

The key is to choose a reputable company, and to make sure they review

your credit before taking you on. Without a full credit analysis, there is

really no way of knowing whether a credit profile can be improved. To allow

a prospective client to sign up for credit repair services without a thorough

credit analysis would be unethical.

Learn more about Tracy at NerdWallet’s Ask an Advisor

(http://www.nerdwallet.com/finance/financial­advisors/).

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