US EditionAce the test: How to boost credit scores
Financial advisors recommend timely payments and reducing debt as top strategies to help consumers increase credit scores and access better loan terms.
- Recently, WalletHub found St. Louis led credit gains with a 3.19% increase to 647, while Des Moines rose 3.19% to 647 and Winston-Salem gained 2.28% to 628.
- Analysis by Current shows regional differences, with Massachusetts, Iowa, Vermont, Alaska and Hawaiʻi leading state-level credit improvements.
- In FICO's system, payment history accounts for around 35% of your score, with credit utilization below 30% being good and new credit contributing 10%.
- Boneparth advises setting up autopay to avoid missed payments, keeping borrowed amounts below $300 on a $1,000 credit line and adding authorized users, according to experts.
- High scores like 760 or 780, as Liz Weston notes, secure the best interest rates by demonstrating `smart, healthy credit habits`.
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Leaning Left2Leaning Right1Center28Last UpdatedBias Distribution90% Center
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