How do I improve my credit?

To improve your credit, it helps to know what's working in your favor or against you. A credit report will point you in the right direction.

Credit score are typically calculated by 5 Distinct Factors

• Payment History (35%)
• Credit Usage (30%)
• Age of Credit Accounts (15%)
• Credit Mix (10%)
• New Credit Inquires (10%)

Keep your credit utilization under 30% of your total available credit. Credit repair is best at 10% or less, so if applicable keep paying off outstanding debt. 

Don't open new lines of credit but instead ask your credit agency to increase your limit. This can help push your debt to income ratio down, getting you under the 30% or 10% thresholds. 

There are two types of inquires on your credit history, often referred to as "soft" or "hard" inquiries. Soft inquiries do NOT affect your credit score. Hard inquiries however can affect your credit score. Hard inquiries typically happen with applications for new credit cards, a mortgage, an auto loan, or other types of new credit.