Quick answer
Your credit score reflects how reliably you repay debt. Improve it by paying on time, keeping balances low, and avoiding too many new applications.
Key takeaways
- On-time payments are the biggest factor.
- Keep credit utilisation low (well under your limit).
- Check your report for errors regularly.
What a credit score is
It's a number lenders use to judge how reliably you repay borrowed money.
How to improve it
Pay on time, keep balances low relative to your limit, avoid lots of new applications, and check your report for mistakes.
Frequently asked questions
How can I improve my credit score?
Pay on time, lower your balances, avoid frequent new applications, and fix report errors.
How long does it take to build credit?
Improvements can show within months, but a strong history builds over years.
Sources
- Credit scores explained — CFPB
