How Credit Scores Are Calculated. You likely have dozens, if not hundreds, of credit scores. That's because a credit score is calculated by applying a mathematical algorithm to the information in one of your three credit reports, and there is no one uniform algorithm employed by all lenders or other financial companies to compute the scores.(Some credit scoring models are very common, like the. How to Improve your Credit Score 1.) Know Where to Start. Before you improve your score, you need to know where to begin. This is the easy part since there are plenty of free ways to find your credit score. Credit Sesame is a top choice for free credit scores. How to improve your credit score: Check your credit reports from Experian, TransUnion and Equifax. Stay on top of payments. Lower your credit utilization rate. Ask a friend or relative for a favor. How do I get my credit report? Free Credit Reports. You are entitled to a free credit report from each of the three credit reporting agencies (Equifax, Experian, and TransUnion)! How to Improve Your Credit Score Advertiser Disclosure February 27, 2020 by Kali Geldis. Advertiser Disclosure Disclaimer If a low credit score is holding you back from getting approved for loans, credit cards or prime interest rates, you might wonder how to improve your credit score. While. How to Improve Your Credit Score. Credit reports are used by banks, credit card issuers and automobile dealerships to help them determine whether or not you are a good risk and if you are likely to repay any loan taken out. Also, many. SpiffyJ / Getty. Before you can figure out how to increase your credit score, you have to know what score you're starting from. Since your credit score is based on the information in your credit report, the first place you should go to improve your credit score is your credit report. A credit report is a record of your repayment history, debt, and credit management. Is your credit score below 760? That’s the score at which you are likely to get the best interest rates on a mortgage. If you’re not interested in buying a home but need to rent a new. More tips on how to fix your FICO Score & maintain good credit: If you have been managing credit for a short time, don't open a lot of new accounts too rapidly: new accounts will lower your average account age, which will have a larger impact on your scores if you don't have a lot of other credit information.Also, rapid account buildup can look risky if you are a new credit user. How to improve your credit score. Building a good credit score, also known as a credit rating, is crucial because it can affect your ability to borrow money or access products such as credit cards or loans. You can check your score for free and if it isn’t in the best shape.