Five Steps to Magic 65 Points Credit Score Jump

Step 2: Pay Down Outstanding Debts

One of the most effective ways to improve your credit score is to reduce your credit utilization ratio, which is the amount of credit you're using compared to your credit limit. Aim to keep your credit utilization below 30% for optimal results. Consider setting up a payment plan to systematically pay down your debts. As you pay off balances, your credit score will likely increase.