8 Best Ways Middle Class People Can Boost Their Credit Scores (2024)

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If you’ve fallen into a lower credit score than you’d like or are looking for ways to improve your score overall, there are steps you can take to change course.

“I’ve observed a few consistent and effective methods middle-class individuals can employ to boost their credit scores,” said John F. Pace, CPA, tax manager for Pace & Associates. “An underlying thread in these methods is the prudent management of financial resources, a principle that has guided my work with families, trusts and private foundations to optimize their financial health.”

Here are eight ways you can boost your credit score if you’re in the middle class.

Raise Your Credit Limit

According to Carter Seuthe, CEO of Credit Summit, one of the best ways to improve your credit score pretty quickly is to request a higher credit limit on an existing credit card.

“Of course, this is only beneficial, first of all, if you can trust yourself to use the card responsibly and if you already have a fairly good credit history,” he said.

He explained that raising your limit will lower your credit utilization, which factors heavily into your credit score.“If you have a history with a particular credit card and have good credit history, it should be fairly easy to request and receive a higher credit limit.”

David Kemmerer, CEO of CoinLedger, said this is a common sense way to boost your credit score if you’re in the middle class. “Raising your credit limit, which will be accessible for most people who reliably pay credit card bills on time — this can instantly drop your debt-to-income ratio and raise your credit score accordingly.”

Become an Authorized User on Someone Else’s Credit Card

Rhett Stubbendeck, finance and insurance expert at Leverage Planning, said you should think about becoming an authorized user on someone else’s credit card.“This helped a client of mine big time. He got linked to his sister’s card, because she’s quite responsible with her spending. His credit score got a nice bump from it.”

“The way I see it, it’s all about trust and choosing the right person,” he said.

Consider a Credit Builder Loan

“It might sound counterintuitive — borrowing money to improve your credit,” said Stubbendeck.“But here’s the thing: a client took a small loan, didn’t touch the money and paid it back over a year. Her credit score went up, and she also ended up with some savings.”

Diversify Your Credit

“Diversifying your credit is another move I stand by,” Stubbendeck noted. “Having a mix of credit types can really show you know what you’re doing while handling finances. I’ve personally diversified my credit, and it’s made a difference in my score.”

Pay Off Your Mortgage

According to Martin Orefice, CEO of Rent To Own Labs, one of the most effective ways to improve your credit score is to focus on paying off your mortgage.

“Not only will regular mortgage payments help to boost your credit score over time, but making extra payments against the principal will reduce your [debt to income] ratio and boost your home equity, both of which can help boost your credit score,” he explained.

Avoid Credit Repair Scams

“I would advise you to be wary of companies that promise to repair your credit quickly for a fee,” said Michael Benoit, certified finance expert and owner of ContractorBond.

He said many of these companies engage in illegal or unethical practices and may do more harm than good, such as charging hefty fees, giving false promises and not delivering the results.

“My best tip is to focus on diligently managing and improving your credit on your own, like paying bills on time, keeping credit utilization low and disputing any errors on your credit report,” he said.

Limit Credit Inquiries

“Each hard inquiry from a credit application can temporarily lower your credit score,” said Benoit.

“For instance, if you’re applying for multiple credit cards at the same time, those hard inquiries may harm your score,” he explained. “My suggestion is to limit unnecessary credit inquiries, and only apply for credit when needed.”

Pay Bills on Time

“I have found that consistently paying bills on time is one of the most effective ways to improve your credit score, as payment history accounts for a significant portion of your score,” Benoit continued.

“I recently read a report by the Consumer Financial Protection Bureau, which stated that about 35% of your credit score is based on payment history. I would recommend setting up automatic payments or reminders to ensure timely payments to boost your credit score,” he said.

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