Building a strong financial foundation is crucial in this day and age. One vital pillar of this foundation is your credit score—a three-digit number that can open or close doors to financial opportunities. If you are just starting, repairing, or fine-tuning your credit, it may seem like a daunting task. But fret not, as I am about to share five surprisingly straightforward strategies that can help boost your credit score without turning your life upside down.


Be Punctual with Payments

Your payment history wields considerable influence over your credit score. In fact, it accounts for about 35% of the FICO scoring model, the most widely used method of credit scoring. This means a single late payment can cause a noticeable drop in your score. However, on-time payments, conversely, can significantly boost it.

Set Up Payment Reminders

Missing a payment simply because the due date slipped your mind is avoidable. Consider setting up email or text reminders a few days before your bills are due.

Automate It

Why rely on memory when technology can do the heavy lifting for you? Many banks offer automatic bill payment services that ensure your bills are paid on time, every time.


Reduce Outstanding Debts

The second most influential factor in your FICO score is the amount you currently owe, which comprises about 30% of the rating. Bringing down your balances, relative to your available credit, can quickly enhance your credit score.

The 30% Rule

Aim to keep your credit utilization ratio—the amount of credit you are using compared to the total amount you have available—below 30%. This means if you have a credit card with a $1,000 limit, try to keep the balance below $300.

Pay More than the Minimum

While making the minimum payment keeps your account in good standing, paying more helps clear the debt faster and saves you money on interest. Consider doubling the minimum payment if possible.


Be Strategic About Opening Accounts

Opening various new credit accounts within a short span can have a negative impact on your credit score. New credit makes up about 10% of your FICO score.

Understand the Impact

Each time you apply for credit, a hard inquiry is added to your report, which can temporarily decrease your score. Be selective when opening new accounts.

Mix it Up

A healthy credit mix of installment loans and revolving credit can be beneficial, as it demonstrates to lenders that you can handle several types of credit responsibly. However, do not rush to open new accounts just to have a ‘better mix.’


Age Your Credit

The longer your credit history, the better—account age makes up about 15% of your credit score. You cannot speed up the passage of time, but you can be strategic about how you use your credit accounts.

Keep Old Accounts Open

Even if you are not using them, keeping old credit card accounts open can help prolong your credit history and, therefore, boost your score.

Be Patient

There is no quick fix for credit age. However, responsible credit management and avoiding opening multiple new accounts can assist in naturally aging your credit profile.


Monitor Your Credit Reports and Dispute Errors

Regularly reviewing your credit reports is crucial to ensuring the accuracy of the information they contain. Errors on your report can adversely affect your score.

Make Use of Free Reports

You are entitled to a free credit report from each of the three major credit bureaus—Equifax, Experian, and TransUnion—every 12 months. Take advantage of this and check for inaccuracies.

File Disputes for Errors

If you find an error, file a dispute with the credit bureau reporting it. They are required to investigate and correct any inaccuracies within a reasonable period, which could result in a higher credit score for you.



Improving your credit score is not an overnight venture, but with discipline and a bit of savvy financial management, it is more than achievable. Prioritize timely payments, reduce your debts, approach new credit strategically, age your accounts, and monitor your reports for errors. By implementing these five easy strategies, you can begin to build towards a better credit score, which will lay the groundwork for your financial future. Remember, the effort you put in today can pay off handsomely in the form of lower interest rates, better credit card terms, and more financial flexibility down the road.

Legal Stuff

The information contained herein is intended to be used for educational purposes only and is not exhaustive. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but are intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax or financial advice. Please consult a legal, tax or financial professional for information specific to your individual situation. Material provided by Concenture Wealth Management.