Whether you have a great credit rating or a poor credit score, there are always things you can do to improve it.

If you have a poor credit rating, remember that your rating is heavily weighted on your credit history, so improving your credit rating will take time… but the sooner you start making changes, the sooner you will see results, especially if you are diligent over time.

Tips for improving your credit rating:

Tip #1: Develop an action plan to pay your bills diligently and make a commitment to yourself to be disciplined at sticking to it. This means you must make your payments on time, each and every month. If you slip up one month, make absolutely certain that it does not happen the following month. The key here is to show creditors and prospective creditors that you are committed to getting your credit back in order.

Tip #2: If you have run into a late payment situation, if at all possible do not use credit again until you have improved this situation (and have improved your credit score).

Tip #3: Take a hard look at your monthly expenditures and eliminate unnecessary purchases. Set a monthly budget and stick to it. The more your credit cards are close to the limit or “maxed out”, the harder it will be to keep making payments. Furthermore, many creditors view balances of more than 30% of the credit limit to be excessive debt that you may not be able to manage.

Tip #4: Investigate options for consolidating your bills, since you may be able to pay off high interest credit cards and save money.

Tip #5: If you run into trouble with paying your bills, for example, due to losing your job, be proactive by calling creditors to explain your situation and, if possible, work out a payment schedule you can meet.

Tip #6: Ensure that your credit report is correct, as the smallest inaccuracy could well have a negative impact on your overall credit rating. Check out the site “Get 800 FICO Score” to learn more.

Tip #7: For those with a short or poor credit history or negative credit rating, consider opening new accounts responsibly and paying them off on time so that you can show lenders that you are indeed capable of managing credit.

Remember, be patient - it takes time to improve your credit rating or credit score, but it will be worth it!