How to improve a 517 credit score

May 22, 2023 | Tedis Baboumian | Credit Education, Credit Repair, Credit Scores

If you’re reading this, chances are you’re looking to improve your credit score. A 517 credit score might seem daunting, but don’t worry – there are steps you can take to start improving it today.

First, let’s talk about what a credit score is and why it’s important. Your credit score is a numerical representation of your creditworthiness. It’s based on your credit history and indicates to lenders how likely you are to pay back debt. The higher your credit score, the better your chances of getting approved for loans or credit cards with favorable terms and interest rates.

Now, onto the good stuff – how to improve your credit score! Here are a few tips:

Check your credit report: The first step to improving your credit score is to know where you stand. You can do this by checking your credit report. This will show you your credit history and give you an idea of what’s dragging your score down. Dovly is a free AI credit engine that can help you dispute any errors you find on your credit report. Try it risk-free with our free membership tier. Get in touch with Dovly today.
Pay your bills on time: Payment history is the most important factor in determining your credit score. Make sure you pay all your bills on time, every time. If you’re having trouble keeping up with payments, contact your creditors to see if you can work out a payment plan.
Reduce your debt: The amount of debt you have also affects your credit score. Try to pay off as much debt as possible, starting with high-interest debts like credit cards. If you can’t pay off your balances in full, make sure you’re at least making the minimum payments.
Use credit responsibly: Having a mix of credit types (such as credit cards, auto loans, and mortgages) can help improve your credit score. However, it’s important to use credit responsibly. Only apply for credit when you need it, and don’t use more than 30% of your available credit limit.
Be patient: Improving your credit score takes time. It won’t happen overnight, but if you follow these tips and stay consistent, you should see gradual improvement over time.

Improving your credit score is all about being responsible with your credit and paying your bills on time. While a 517 credit score might seem low, it’s not the end of the world. With patience and perseverance, you can start improving your credit score today. Good luck!