While 750 is a good credit score for most companies; almost half of the American consumers have a score lower than this. There are no known shortcuts to fixing or building credit history and score but there sure are ways you can take to create a positive credit rating.
An SOP for any company, always pay your dues on time. Always remember that one great factor credit history is determined is your paying reputation. Credit bureaus like Experian, TransUnion and Equifax have all the records of all the mortgages, payables and loans you had in the past and how you were able to manage repaying them. A regular delay or non-payment could hurt your score and credit history so badly.
It may sound not too crucial but issuing bounced checks can do a lot to your credit history - negatively. A bounced check may not appear on your credit report but could possibly be tracked by banks. So don't be surprised the next time you apply for a loan or a mortgage and banks would decline your application due to bounced check issues in the past.
Secured credit cards are an alternative to regular credit cards. People having hard time applying for a standard credit card could opt for secured credit cards. While applying for such cards can't fix or give you a good credit history overnight, it is a sure way of building an impression that you can manage your finances well.
Start with small loans. People with bad credit history will find it hard to get approved of a loan or a credit card. As much as possible, start with small loans first, small amount loans will serve as testing ground for you. When you are able to manage your loan, you may likely be granted of bigger loans gradually. It would also help if you go to local lenders instead of going straight to major lenders.
Make it a habit to check on your credit report regularly. There might be some discrepancies, fraud or errors in your records that may hurt your credit score big time. When errors are found, sort it out as soon as possible to avoid more aggravations. It takes seven years before credit frauds and issues are cleared out on your record so act on it immediately.
As much as possible, never let court cases files against you. This is no way a good record for your credit reputation. Settle things before it could even go to the courts.
A good credit history will give you higher chances of having a loan or credit card approved - that's your reward for maintaining a good record.