How to Raise a 550 Credit Score to 700

To move from a 550 credit score toward 700, get your credit reports from all three major bureaus through AnnualCreditReport.com and identify what is pulling your scores down, such as late payments, high card balances, collections, or reporting errors. Dispute information that is inaccurate, but make a separate plan for accurate negative items: a dispute will not erase a debt simply because you pay it or would rather it not appear.

Payment history is a major scoring factor, so bring any past-due accounts current if you can and make at least the minimum payment on every account by its due date. Autopay for the minimum, paired with calendar reminders and a quick review of your bank balance, can help you avoid a new late payment while you work on older problems.

Check the listed dimensions for protect every payment going forward against the available vehicle space before use.

If you have credit cards, pay down balances relative to their limits, starting with a card that is close to maxed out while continuing to pay every other account on time. Using less of your available credit can help, but you do not need to carry a balance or pay interest to build a score; paying your statement balance in full is generally the less costly choice.

Check the listed dimensions for lower credit card balances against the available vehicle space before use.

If you have little active credit, a secured card may help you establish positive history when the issuer reports payments to the credit bureaus, provided its deposit and terms fit your budget. Avoid applying for several accounts at once or closing an older card solely because you paid it off, since new applications and changes to available credit can complicate your progress.

A move from 550 to 700 is a substantial one, so track your reports and scores over time rather than expecting one payment to produce a 150-point jump. If you are preparing to finance a car, our Smart Strategies to Boost Your Credit Before Buying a Car – eBook Guide for Improving Your Credit Score is a related resource, and you can also read our article on improving your credit score as you set your priorities.