Your creditors will view a well-managed bank account as a sign of stability. Add Other Small Forms Of Credit Once you've paid-off a large portion of your current debts, add other forms of credit, like get a small mobile phone contract, and pay it off every month. Small bills like mobile phone monthly payments may help to enhance your credit rating, and will also indicate that you're well-rounded when it comes to handling different forms of credit. How To Dispute Any Errors You Find Once you personally find any discrepancies or flaws, you can dispute these through filing your complaint online, as well as by writing a letter to the specified credit agency. While sending your dispute on the Internet may be much faster, it only offers you limited options to explain your reasons. It pays to develop frugal saving and investing habits during tough economic times. Buy Second Hand Items To conserve your cash, and prepare for the tough times ahead, buy good-quality second-hand items, instead of splurging on high-priced items, which are sure to keep you sinking in a sea of debt. To stay afloat during tough financial times, keep your sights focused on reducing, as well as eliminating, your debt. To develop the credit scoring system, a creditor generally weighs each of the major factors, based on how each of the factors predicts whether a person is deemed a good credit risk. Credit scores generally have a range between 300 and 850. Here s a rundown of the standard score range. 300 499 Bad Credit 500 580 Poor Credit 580 619 Low Credit 620 679 Average Credit 680 699 Good Credit 700 850 Excellent Credit Regularly Monitor Your Credit Score According to credit experts, a good to excellent credit score is often weighed as a future sign of your credit value, and if your credit score is Good, then your future loan s interest rates will certainly be lower than usual. Should you spot any inconsistency or discrepancy in your report, this should be removed or erased immediately. Keep Off Any Overdraft Fees To steer clear of overdraft fees, always make it a habit to balance your checkbook against your monthly statements, and always keep records of the items you purchase, or the services you ve availed of. How To Monitor Your Business Credit Score When monitoring your business credit score from systems like Paydex, you need to bear in mind that the Paydex score ranks how early, or how late, you fulfill your debt payments. For example if you get a 70 on the Paydex system, this indicates that your business is 15 days late when making loan payments, and will certainly be considered a poor score.