The playbook
Five plays for your next yes
None of these need a membership. They're what we'd tell a friend who'd just been turned down.
- 01
Read the scoreboard
You can't fix what you haven't seen. Your credit report is the record lenders read; your score is a number calculated from it.
- Get your reports free from all three nationwide bureaus at AnnualCreditReport.com, the official site. You can check them as often as weekly.
- Look for accounts you don't recognise, late payments you believe were on time, and balances that are out of date.
- Scores differ between models and bureaus, so the number you see may not match the one a lender used. The report underneath matters more.
- 02
Build the record
Most of a score comes from how you've handled credit over time. Small habits, repeated monthly, add up.
- Pay every bill on time. Payment history is the biggest single factor in the most widely used scoring models. Automatic minimum payments are a good safety net.
- Keep card balances low compared with your limits. Paying down balances before the statement date can help, because that's usually the balance that gets reported.
- Keep older accounts open if they're not costing you anything; the age of your credit counts.
- Space out applications. Each one can mean a hard inquiry.
- 03
Try a different door
If mainstream lenders keep saying no, there are products designed for people building or rebuilding credit.
- Credit unions often look at your whole situation, not just your score, and many offer small starter loans.
- Secured credit cards use a refundable deposit as your limit. Used lightly and paid in full, they build a payment history.
- Credit-builder loans hold the money you borrow in a savings account while you make payments, then release it to you.
- Be wary of very high-cost loans and anyone who asks for fees up front to "guarantee" approval.
- 04
Count what you already pay
Rent, phone and utility bills usually don't appear on credit reports. Some services can add them.
- Rent-reporting services can send your on-time rent payments to one or more bureaus. Some landlords offer this for free; others charge a fee, so check the cost first.
- Some bureaus let you add utility, phone and streaming payments to your own file. This only affects scores based on that bureau's data.
- These help most when your file is thin, meaning you have few accounts or a short history.
- 05
Fix what's wrong
The law gives you the right to dispute information you believe is inaccurate or incomplete, and it costs nothing.
- Dispute directly with the bureau that shows the error, online or by mail. Include copies of anything that supports your case.
- The bureau must investigate, usually within 30 days, and correct or remove information it can't verify.
- You don't need to pay anyone to do this. No one can legally remove accurate, timely information.
- If you think someone has used your identity, report it at IdentityTheft.gov and consider a free fraud alert or security freeze. See your rights under the FCRA.
Want help running the plays?
CreditCovero shows you your report, explains each item, ranks your next moves and tracks your progress month by month.