Everyone wants to have a better credit score. Sadly though, achieving a satisfactory credit score is not as easy as it seems and takes quite some time. A lot of people attempt quick-fix methods to fix their credit scores but most of the time they end up disappointed. The truth of the matter is that there are no shortcuts to improving your credit scores.

If your credit score becomes too low, for whatever reasons, all one can do is adopt effective credit management strategies and implement them for a good length of time. This responsible way of managing your credit scores is what is looked at in this article.

Credit Report Checking

As already mentioned above, improving one’s credit score is a gradual process and not a sprint. This requires one to start with fundamental things such as checking your credit reports for any errors. Until you go through your credit report thoroughly and are satisfied that the report is accurate in all respects. If you find errors then you should raise a dispute with the credit report provider.

Your credit report contains vital data that is used to compute your credit score. The data can contain errors which may have influenced your poor credit scores. It is, therefore, important that you check your credit report for errors.

Any errors found in the report should be reported to the credit bureau who will assist you in correcting your disputed credit score.

Make A Habit Of Paying Your Credit On Time

The mistake that many people make and which often leads to bad credit scores is missing credit payments. Some might also lack the time to make the payment and find that they are missing payment deadlines - both will impact your credit score. So, what do you do if you are one of the people making the kind of mistake mentioned here?

A good practice would be to set up payment remainders. A simple reminder set in your phone can ensure you make your payments on time and avoid bad credit scores. One can also make arrangements with the bank for them deduct the amount due to your creditors at a certain time automatically so that you will never again make late payments.

The bad thing about automated payments is that they tend to be for minimum payment amounts and so do not clear your debt effectively and you do not improve your money management skills in any way because you are passing control of your finances to your bank. In spite of that, any method that can be used to ensure you make your credit payments on time is greatly encouraged. Delayed credit payments are just as dangerous to your credit scores as defaulted payments.

Pay-Off Some Debts

More often than not, there is a trade-off between clearing some of your debts and improving your credit scores. This is because clearing some of your outstanding debts is more satisfying than it is effective at improving your FICO scores.

Your credit report should provide details about accounts that you owe money and how much interest has accrued so far. This information and that sourced from statements will be used to isolate and prioritize your debtors. Arrangements should then be made on the most effective way of paying those debts.

Let us now look at tips on how you can ensure that you make your payments on time. As mentioned above, delinquent payments and collections negatively impact on an individual’s credit and FICO scores. Here are tips to ensure you are not caught up in such situations.

You should always strive to be current with your missed payments. Always remain updated on the state of your credit records so that they don’t hurt you in future. After finding out that you have missed a payment, you should ensure that you make continuous prompt payments to the affected account for a long time.

Older credit problems tend to have a lesser impact on your credit scores. Recent good payments will always mend your past failures. Your FICO scores will greatly be determined by the manner in which your current credit records appear. Little or no weight will be given to long past performances.

Paying off an account that is in collection does not in any way exclude it from your credit report. It might make you feel more satisfied, but it will only influence your credit scores long after you have settled the debt - the information will remain on your report for seven years!

Sometimes it is wise to seek professional advice on how to manage your credit. You might find that what you are lacking is financial counsel from someone who is experienced in financial matters.

Immediate results shouldn’t be expected even after successfully trying out these tips. The secret here is consistency. Let us now look at the tips for settling some of your outstanding debts. How do you go on paying outstanding debts? How does it benefit your credit records?

The manner in which you settle some of your debts contributes to about 30% of your FICO scores. The good thing about pay-offs is that they are easier to implement than redeeming your credit history. The tips below will provide you with the understanding required in order to pay off some of your debts.

• Avoid accumulating high, outstanding debts on your credit cards. Always strive to have the balance on your credit cards to a minimum.
• Closing unused credit cards will not be a solution to your already dented credit scores.
• Do not be tempted to open several credit accounts to increase the amount of credit available to you. This might make you feel richer for a time, but it won't be joyous when your credit report comes because each new credit account wil lower your overall credit score.

It would be unwise for someone who has little experience in credit management to open several credit cards as this would ultimately reduce the average maturity of their accounts. Here are some things you can try out on newly opened accounts.

• Paying new accounts off on time boosts your credit scores significantly.
• It is okay to request for credit reports on your new account whenever you have the need to.
• A credit history that was problematic requires a re-establishment by opening and managing new accounts responsibly.
• Only open new accounts that you are able to manage.
• Practice good credit management habits with your newly opened account.

As a conclusion, improving your credit scores is a process of checking and correcting any errors on your record (if there are any!) and then following the methods above to maintain a consistent and improving credit history. This process takes time and self discipline.