If your credit score is low because of a high balance on a credit card, transfer some of the balance to another card. Try not to open a new card because to do this can also reduce your score.

Many banks monitor the payment history on a secured credit card and convert the secured card to a non secured card automatically if all terms are met.

In addition to the general guidelines discussed here, each secured credit card program will have it’s own specific cardholder terms. You will want to read these terms carefully and make sure you understand them before signing the cardholder agreement.

Some banks will allow you to secure the credit card with a cd, rather than a cash deposit. You still need to have the money available, but you can also gain interest on that money.

If you have a very high balance on one particular credit card (namely a high balance by comparison to the credit limit), transferring some of that balance to cards with higher limit’s, or simply increasing the limit’s on the cards with which you have good payment histories, may yield large increases in very short periods of time.

Obtain your first credit card either from a dept. Store or from a credit card vendor. Your first credit card will probably only have a couple hundred dollar limit but this is perfect and with proper use will establish your credit and increase your scores quickly. Never max. Out the credit card, keep your balance at 30-40% of the limit or less, and pay more than the minimum payment. These tips will help you to establish credit in no time at all.

Another good way to increase your score is to take out a secured credit card. The credit card will show the creditors that you have more available credit to you. The longer the card is open, the better that it reflects on your credit as well. Also, since it is already secured with your money, you will not be able to get yourself into any sort of spending trouble or bad habit’s.

Asking your credit card companies to increase your credit limit’s (only ask on cards which you pay on time) can help marginally, and if you are the forgetful type, think about enrolling in an automatic bill payment service.

If you have a credit card that is maxed out you can request a credit line increase to bring your balance to limit ratio back within the preferred 50% range. This simple process can have a great affect on your credit score within a month’s time. However with an increased credit line you do have to exercise fiscal responsibility to avoid getting deeper into debt.

If you always pay cash, try opening a small limit credit card. Use it to buy your gas and pay it off every month. This will improve your score and give you an extra trade line.