How to Raise Your Credit Score in 2023 

A good credit score is essential for obtaining loans, credit cards, and mortgages. A high credit score can help you get better interest rates, lower insurance premiums, and even help you get a job. 

1. Check Your Credit Report: The first step in improving your credit score is to get a copy of your credit report. You can get a free copy of your credit report from each of the three major credit reporting agencies (Equifax, Experian, and TransUnion) once a year.

2. Pay Your Bills on Time: Paying your bills on time is the most important factor in determining your credit score. Late payments can have a significant negative impact on your credit score. Set up automatic payments or reminders to ensure that you never miss a payment.

3. Keep Your Credit Card Balances Low: Your credit utilization ratio is the amount of credit you have available versus the amount of credit you are using. If you have high balances on your credit cards, it can negatively impact your credit score.

4. Don't Close Old Credit Card Account: Length of credit history is another factor that can affect your credit score. If you have old credit card accounts, keep them open. Closing an old credit card account can shorten your credit history and negatively impact your credit score.

5. Limit New Credit Application: Every time you apply for credit, it can result in a hard inquiry on your credit report. Too many hard inquiries can negatively impact your credit score.

6. Consider a Secured Credit Card:  If you have a low credit score or no credit history, consider getting a secured credit card. A secured credit card requires a deposit, and the credit limit is typically equal to the deposit.

7. Monitor Your Credit Score: Finally, you should regularly monitor your credit score. You can get a free credit score from many credit card companies or credit reporting agencies. Monitoring your credit score can help you track your progress and identify any issues that need to be addressed.