A good credit score is essential for many common financial activities. For instance, if you require a loan to purchase a vehicle or a home, lenders inevitably look at your credit score, and you’ll only get good terms if it is excellent. If you want the best terms while borrowing funds or access to credit cards with the greatest rewards, you’ll want to improve your credit as quickly as possible. Here are some strategies that are sure to help you.

Make Payments on Time

A history of missed or late payments causes your credit score to drop drastically. To reverse this situation, resolve to make all your payments from this moment and into the future on time. If you tend to forget to pay bills, set up automatic payments. Unfortunately, late payments stay on your credit report for years, but making this positive step marks the beginning of the end for those negative reports.

Pay Off Credit Balances

Continual balances on your revolving credit accounts lower your credit score. Make a plan to pay off your credit card debt and any other credit lines as soon as you can. Once these debts are all eliminated, you should see your credit score rise. One method of paying off multiple balances is to eliminate them one at a time. Concentrate on paying off one while you make minimum payments on the rest. When you have completely paid off that one, move on to the next.

Give It Time

If you have had bad credit habits in the past, it will take time to set things right. Be patient and persevere in making payments on time and paying down your debts. Avoid complicating the issue by applying for additional credit cards and new accounts. Eventually, you’ll see the improvement that you are looking for.

For more advice on improving your credit score, look to Aspen Commercial Lending.

Here is another great resource for you from Dave Ramsey. This book will give you an actionable plan for paying off your debt. This is one of the most important factors in improving your credit score.