Having little to no experience with credit score or perhaps, just have no track record with credit may make you fathom of what credit score is. And with such, it may make you have thin credit file too. Meaning to say, you have limited credit accounts that are listed to your credit reports, oftentimes 1 to 4. In general, the lender or bank may have a hard time in calculating your credit score as there’s not much info that they can use.

Improving Your Score

Fortunately, there are several things that can be done to improve your credit score like by doing the following:

  • Applying for secured credit card
  • Take out a credit builder loan or;
  • Become an authorized user on someone’s credit card

Another frequent question will involve your understanding of the specific actions that’ll impact your credit score. For instance, will closing some of your revolving accounts can improve it?

While there seems to be a straightforward answer to this question, still there are several factors needed to be considered.

Not that Easy

Keep this in mind, credit scores are entirely based on the info found on a person’s credit report. Changes to the credit report may likely have an impact to the person’s credit score. So, just closing two account wouldn’t just lower the number of the open revolving accounts but also, this will decrease the overall credit available. Preferably, talk to a financial expert on how it can be done flawlessly.