Ways to increase credit rating to improve FICO
6—Do not close unused credit cards
Use those every couple of months to keep the history and also your total credit limit high
7-Don’t open a number of new credit cards in a short period, just to increase your credit limits.
This could backfire and lower your fico score. Apply for and get new credit cards only as you need.
Have credit cards, but manage them responsibly.
8-If you have been managing credit for a short time; don’t open a lot of new accounts too rapidly.
New cards will lower your average account age, which will have a bigger negative effect on your score especially if you don’t have a lot of other credit data. Also, it could make you look riskier if you are new credit user.
9-Do your car or mortgage loan shopping fast.
Every time you apply for a loan your credit gets pulled (inquiry), try to do it in a couple of weeks, because having lots of inquiries will decrease your fico score. The bureaus will not count it against you if you have same category of inquires (car loans, mortgage) within short period of time.
10-Closing an account does not delete that.
A closed account will stay on your credit report, and may affect your score.
For Ways to increase credit rating to improve FICO