How to Increase a Credit Score After Maxing Out a Card

Raising your credit card debt can have a substantially negative impact on your credit score. However, there are some things you can do to help your score rebound. Common sense and discipline are the real keys, but some specific strategies can also help.

Instructions

1

Make your payments for all of your debt on time without fail. A history of late payments can damage your score as much as excessive debt balances.

2

Make more than the minimum payment each month if at all possible. Again, this can work for any debt balance you have, but start with your higher-interest debts first. A few months of principal reduction can get your score heading back up.

3

Pay off any small balances first. For example, if you just ran $10,000 up on one card and owe $800 on another, then pay off the latter card to reduce the number of outstanding accounts you have. Then use the money you would have spent making the payments on the smaller card to help pay off the other.

4

Refrain from pulling your credit score on a regular basis, as this lowers your score by five points each time you do so. Pull your score every six months and then keep close track of your debt in between.

5

Make sure that any unused accounts are closed by studying your report when you pull it. Too many old open accounts can hurt your score as well. Close any accounts that you know you won't ever use again.