How to Raise My Credit Score

Credit can be a major monster to tangle with.

It can impact so many decisions in your life. If not managed properly, your credit score can be one of the most restrictive factors when it comes to your future plans. Still, mistakes can happen, and many often find themselves in the stronghold of poor credit. That’s why Newton Federal has put together a guide to help answer one of the most pressing questions to date: How do I raise my credit score?

Punctuality is Key

When it comes to managing your credit score, the most important factor is your payment history. One quick way for your history to take a turn for the worse is not making payments on time. Luckily, most institutions offer some form of a grace period when it comes to payments. After that initial grace period, you’ll likely be subjected to some kind of late fee. But after thirty days of no payment, your score will face a crippling decline.


Even your first 30 day delinquency can see your number plunge upwards of 100 points.

This is a serious blemish to your report, and can turn a good score poor with little effort. These can take a considerable amount fo time to recover from, leading to lasting strain. If you’re already in this predicament, the priority should be paying debts down. The more payments you begin making on time, the more you’ll start to see your report change for the better.

How Much Should I Pay Per Month?

For every payment plan, there’s a minimum monthly figure.

Falling below this within thirty days following the due date will trigger the aforementioned score drop. Even if your balances are high, still at the very least try to make this amount. That said, if you are in the position to, try paying more than your monthly minimum. This will get your balances down faster, which will in turn raise your score quicker.

While on the subject of balances, it’s best to keep them as low as possible.

Using anything above 30% of your balance will lead to your score taking a noticeable hit. If you’re above 30% currently, this is another great time to try paying as much over your minimum payment as you can handle.

Working with Newton Federal

These are a great start to keeping your credit in check. Looking for more answers on "how to raise my credit score?" Be sure to check back in with us on our next piece, where we'll explore even more options for whipping your score into shape. For any other banking needs, don't hesitate to reach out to us. You can browse our site to see each of the banking services we offer our clients. Schedule a consultation with us today to get started on your path to brighter banking.