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How to Improve Your Credit Score

Once your credit score goes below good ratings, it becomes very hard to get a loan with bad credit in future. If you are a regular borrower, then bad credit ratings closes all doors for you to avail finance. So, our best efforts should be to maintain our credit ratings above bad level. Anyway, we should be familiar with the factors that are responsible for lowering our credit score.

Top Credit Score Factors Not all credit score factors are equally important. The top most two critical factors that highly affect your credit score are payment history and credit utilization ratios.

Payment History

When you apply for a loan, the lenders review your credit report thoroughly. They're very keen to know that how timely you pay your bills. Making timely payments of your bills is the key factor to determine your reliability. Missing due date of your bills payments negatively effects your credit score. So, be careful to pay your due bill in time to maintain a good credit ratings.

Credit Utilization Ratio

The second factor that is also highly responsible for lowering your credit score is your credit utilization ratio. To obtain your credit utilization ratio two factors are considered namely total credit card balances and total available credit limit.

Tips to Improve Your Credit Score

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