Good Credit: How to Improve Your Credit Scores

In many contexts, the word good means the course which should be favored whenever faced with a tough choice between two possible alternatives. Good, on the other hand, is normally thought of as the opposite of evil, which, in turn, is the opposite of good. There are many related concepts in philosophy and ethics, some of which are called ‘goodness’ and ‘virtue’. However, when we speak of ‘goodness’, it usually signifies personal goodness, i.e., an end to certain forms of wrong doing, or at least a commitment not to commit similar wrongdoing in the future. But ‘good’ in this context does not refer only to a capacity to contribute towards one’s own gain.


One of the prime examples of a concept connected with good is the idea of a ‘good day’. According to this concept, a good day is that which permits us to do all that is required to contribute to the realization of our ends. A ‘good day’ could involve any number of things, such as being able to enjoy leisure time, spending leisure time with loved ones, accomplishing goals, developing interpersonal relationships, being able to deal with stress, developing self-confidence, overcoming anxiety, making a good impression on others and so on. The idea of a ‘good day’ is important enough to warrant mention.

Another concept associated with good credit score is ‘payment history’. According to this concept, a good payment history in any given period of time is a measure of a person’s financial responsibility. Poor payment history, on the other hand, is a signal that the borrower cannot or will not repay what is owed to the lending parties. According to this concept, lenders consider late payments on the credit cards and other bills as negative activity and this action reduces the borrower’s ability to borrow from other people or companies. Thus, according to this view, those who repeatedly fail to pay their bills or meet their obligations may have a poor credit history.

One of the most significant factors that lenders use to calculate a payment history is the frequency of late payments. For instance, if you consistently make late payments on your credit cards, you will be considered a high-risk consumer by many lenders. Lenders will assess you as a high-risk consumer and will therefore charge higher interest rates to your credit cards. Conversely, if you pay your bills on time, you will be considered a low-risk consumer. Your credit report will reflect that you have a good payment history with your credit cards, thus improving your credit scores.

One more concept that lenders use to determine the credit score of a consumer is the soft inquiry process. In this process, lenders take into account how many times creditors request information about you through the credit reports. This includes requests made directly by creditors (such as requesting details about previous addresses and other relevant information), letters that lenders send out, and faxed requests. Because lenders rely on the soft inquiries to determine your creditworthiness, there is a strong likelihood that lenders will consider you a high-risk consumer if you consistently make the majority of these soft inquiries. However, this is not considered a major factor when lenders review your credit reports.

There are several different ways to improve your credit scores if you want to get a good credit rating. These concepts, including your payment history and the frequency of late payments, are considered by lenders to be among the most important factors in determining your credit scores. If you pay your bills on time and don’t make too many late payments, you can expect to have good credit scores. If you consistently make late payments or miss payments altogether, however, you will have a lower credit score. You can learn more about your credit scores – including common mistakes to avoid – by registering for a free credit report online.