
You have many options to improve your credit score. The length of your credit history plays a major role in determining your credit score. The more senior your accounts, the more lenders will trust that you can pay them back on time. A longer repayment term can increase your score.
Payment history
Your payment history plays a major role in determining your credit score. Failure to make a payment on time can cause a big dip in your credit score. Late payments are also recorded on your credit file for seven-years. It's crucial to make payments on time as soon as possible, even if they are just a few days late.

Age of accounts
Credit scoring models evaluate the average age in your credit accounts. These information are used to determine your overall credit score. However, different age-related factors may affect your score depending upon the scoring model you use.
Credit limit for age
Credit score can be affected according to the average age and balances of your accounts. Creditors appreciate proof that your accounts are active for a while. The more age of your accounts the better. Older accounts tend to have a lower average age, which can impact your credit score.
Payments made on time
Your credit score is largely dependent on timely payments. They are reported on a monthly schedule to the major consumer credit bureaus. Late payments have the potential to lower your credit score by as much as 180 points, so making your payments on time is crucial.
Recent loan activity
Credit score is affected by recent loan activity. You can lose your score if you have too many new accounts or inquiries. The good news is that you can do something about it. It is important to first review your credit history and make any necessary modifications. You might open a new card, or get a small personal loan if your credit report isn't in order. It is important to pay your bills on time. You'll see an increase in your score over time if it becomes a routine to make timely and responsible payments.

Soft inquiries
Soft inquiries affect your credit score in a few ways. A soft inquiry is performed by lenders when you apply for a credit card. Insurance companies will conduct a soft inquiry when you apply for homeowner or auto insurance. These inquiries are not visible to the public, but they will be added to your report.