The best way to achieve a higher fica score is to review your credit report and look for mistakes. You can obtain a free credit report once a year. There are two other steps you need to take to improve FICA score or to keep it high.
You can order your personal credit score report once a year without charge from all three of the credit reporting bureaus. The three credit reporting bureaus are Equifax, Experian, and TransUnion. You can apply online at www.annualcreditreport.com. Once you receive your personal credit score reports from all three bureaus, you will review them for errors. You may find old accounts showing balances that have been paid or you may find charges that are not yours. You will dispute any errors by writing to those credit bureaus and asking them to correct your account because that will increase your FICA score.
Credit Bureaus give bonus points when credit card balances are at 35% of the limit of the card. First you need to pay down these credit cards to this limit. Paying off a credit card actually has a negative impact on the fica.
To raise the score for fica you need to pay all your bills on time. The amount a 30 day delinquency will drop a credit score depends on what your score is. If it is 680, a 30 day delinquency will drop it by 60 to 80 points. For a 780 score, a 30 day delinquency would drop that score 90 and 120 points. Maxing out a credit card with a 680 score would cost 10 to 30 points. With a score of 780, that cost would be 15 to 45 point. The trick is not to be late.
With these three steps in a very short time you can improve your score and reap the benefits of lower interest rates, longer repayment terms and the ability to finance anything you want to.