I’m not going to waste your time with the obvious like “pay your bills on time”. That I think is pretty much common sense. There are some less known things you can do relatively quickly and easily to raise your credit score.

For the most part, they all revolve around the same subject.

Make sure your credit card limits are reported: We know that your credit card balance to limit ratio is the second highest factor in determining your credit score. About half the credit reports we look at have at least one trade line not reporting your credit limit. When your credit limit is not reporting and only your balance is, it will appear as though you are maxed out. If you don’t see a limit on your credit report, contact the card issuer and insist they report it.

Ask for a Limit Increase: Again, if your balance to limit ratio is the second highest determining factor in your credit score, then raising your limit would decrease that ratio. Example: If you have a $5000.00 limit and your balance is $3000.00; that is a 60% balance to limit ratio (always try and stay below 50% - 30% is best). If you’re in good standing with your credit card issuer, then getting an increase to say $6,000. would automatically drop your ratio to 50%.

Do Not use American Express: Ok Amex isn’t necessarily a bad card by any means, but the way they report is. Again referring to the balance/limit ratio subject, Since Amex typically does not have a pre-set spending limit, ANY amount you carry as a balance will appear as the max. You can have a $10.00 balance on an Amex and it will appear as that is your max. Amex, if you’re reading this, find a way to solve that.

Do Not Close Paid Accounts: I see so many so called “credit experts” advising their clients to close paid accounts. WHY? Credit Scores if viewed in the most simplistic manner can be broken down to simple math. Good Accounts = Plus Points - Bad Accounts = Negative Points. Why would you close a good account? If you don’t want to use it cut it up, but by no means should you close them.

Dispute Your Inquiries: Although the exact amount is not known by anybody, it appears that inquiries can count for as much as 5 negative points each on your credit report. It is also very common for me to look at a credit report with 20,30,40 inquiries on it.  In recent months it appears as though the 3 big credit bureaus have pretty much removed inquiries with little or no resistance. My advice is to dispute them. If the credit bureaus wont remove them, go to the creditor and asked for your signed application.