The Good Debtor: 5 Ways to Improve your Credit Score

Everyone agrees that having a clean slate to work with is the best thing. A clean slate is a perfect way to “smoothly” start towards a fruitful outcome. This “clean slate” is the same reason why creditors and banks often want their debtors to have clean records when it comes to their credit scores.

For one, having a good credit score puts creditors at ease. Creditors will be more likely to trust a person who comes to them with a good credit score. Credit scores are often between 350 to 850. A score of 650 and above means that you’re likely to be more trustworthy. If your score drops to below 650, this is where the problems start.

Having low credit scores can severely hamper your applications. For one, a 2012 study shows that companies use credit checks to hire their employees. Most mobile phone providers also do credit checks and find that an unusual number of people don’t qualify for deals they have. As you can see, having a low or bad credit score can be a bad thing.

Don’t fret. There are ways to help you up that score of yours. Read below to find out how you can gain the trust of your creditors. By the time you religiously follow these facts, you’re well on your way to a good credit score.

It “Pays” to be on time

Don’t mind the play on words, but it does pay to be on time, especially if it’s about paying your bills. Most creditors and lenders are interested in how “on time” are you with paying your bills. Creditors like to look at your payment behaviors because they consider this a good tell of your financial futures.

Hard as it may be, you have to pay your bills on time and in the correct amounts. Bills not only include loans and credit card bills; they also include power bills, phone, and even your rent. If you’re behind payments, resolve them as fast as you can because these can impact your credit scores in the long run.

Old Debts can help

Sure they do help but only if your payments were made timely and without fail. These kinds of debts should be left behind on your credit report. You shouldn’t be hasty in removing these kinds of information off your report. The reasons? These records can help your creditors to see how good and trustworthy you are when it comes to your bills.

Think of it as a positive “Track record” for your payments done in good faith in the past. Don’t worry about having to stick with these records. Proven that you resolved it in time, any debts that have negative consequences to your credit score, are always removed from your report.

Don’t push it

Almost everyone has a credit card nowadays. A credit card is a sort of a “power” or a boost for most people. Although it might be cliche, “with great power, comes with great responsibility” holds very accurate to credit cardholders. Don’t ever exceed your credit card limit as this is one of the red flags that most creditors look at on your credit report.

Carrying multiple credit cards isn’t going to help either. Always be responsible with what you have and don’t impulsively spend on things that may hurt you and your credit score.

Clearing off debts

As mentioned earlier, most creditors often want to work with people who are a “clean slate.” As a debtor, you should always try to clear off debts before applying for any other new loans. If you can’t clear them off entirely, at least try to keep them to a minimum. There are programs from banks or creditors that can help you save money and pay off your debt quickly at the same time.

Balance transfers, for example, can significantly help you pay off that credit card loan. However, do be aware that balance transfers can positively or negatively affect your credit scores, depending on Credit Score Trends that come and go. Always ask and know the intricacies before diving right away into any program.

Getting Professional Help

When you’re downright confused and don’t know what to do about your credit scores, don’t do anything drastic. Always consult a financial expert for some tips and advice on how to positively affect your scores or reports.

Programs do exist wherein a creditor offers them to people to help pay up past debts and loans. The risk with these programs are that most people jump right away at the chance of paying off their debts. What happens is they get to pay off their debts now, while they have to go through complicated processes or even more liability in the future. To avoid any mishaps, always consult with a good financial expert. Don’t be afraid; get help when needed.

Patience is Perfect

If you’ve been up to the task with paying off your debts, then it’s good to relax responsibly now and then. Don’t burden yourself with having to raise your credit score overnight. It’ll happen eventually, just have patience. Don’t rustle through your mind of what could have been and what couldn’t as it’ll only add stress.


A good credit score is what most people nowadays are aiming for. Creditors and you as the debtor alike should know how significant a credit score holds. Keeping a low credit score may not affect you now, but it will in the future. Most debtors don’t bother doing business with people who have terrible credit scores.

If you think that you’re rapidly dropping down to that dreaded credit score, then doing the things mentioned above should help you slow down or even help you raise your credit score.

Comments are closed.