It rises if you pay your bills on time, have one or two loans, keep your credit card balances low, have a stable record of credit use, keep your accounts open for a long time and avoid too many applications for new credit.

Your score lowers if you pay your bills late, have an excess or a lack of accounts, max out your credit cards or apply for a lot of new accounts.
It’s a lot to keep in mind, so if all else fails, take Weston’s advice: “Paying your bill off in full is the best way to keep your finances in shape and build your credit at the same time.”

3. Don’t have a credit card to build credit?
“There are a number of ways that consumers can establish credit,” says Levin. One way is to get a secured card. “If you deposit $2500, the bank will then issue you a secured credit card with a credit limit of $2500. The bank is guaranteed that you will not miss a payment because you have essentially prepaid for any amount you charge up to your limit,” he says. While you are building credit, and will eventually reach a high enough credit score to merit approval for an unsecured card, the deposit you’ve made on your secured card is off limits while in use.

Another popular method is to get a retail card from stores like Macy’s or The Gap. “Retail cards are generally much easier to obtain even if your credit history and credit scores aren’t in the best shape,” says Levin. Although quick payments on retail cards facilitate a positive credit history, there are limitations on where the cards can be used, and the interest rates can be very high. “Paying them off quickly is a must,” says Levin. “The line they love to give you is ‘if you open one today you’ll save 10%,’ which is nice, but then they’ll slaughter you with your interest rates later.”