How can one improve their credit score over time?

To improve a credit score over time, the most effective strategy involves paying bills on time and managing debt responsibly. Consistent on-time payments demonstrate reliability to lenders, which is a critical factor in determining creditworthiness. Additionally, maintaining a manageable level of debt relative to available credit, often referred to as credit utilization, can have a positive impact on the score.

Having a good mix of credit accounts, used judiciously and paid on time, also contributes positively to one’s credit profile. This approach shows lenders that the individual is capable of handling credit responsibly, which ultimately reflects in a higher credit score over time.