1. Payment history- 35%
2. Total debt owed to available credit ratio-30%
3. Length of time establishing credit-15%
4. Types of credit established-10%
5. Inquiries and New accounts-10%
Find out what is on your credit report. There are three major credit reporting agencies, and you are entitled to a free report from each of them every year. It can take between 3 and 7 years to repair your credit score, and a bankruptcy will stay on your credit report for 10 years. The three major reporting agencies are Experian, Equifax, and TransUnion. You can view your reports online or print them out. Be sure to record the report number so you can access them for free if you need to do so.
Review your credit report, and document and dispute anything that is wrong.
Make your payments on time, every month.
Try to pay off your credit cards or reduce the balances significantly.
Spread your spending over several cards, especially cards that you've had for a long time. Credit bureaus like to see that you've had some of your cards for several years.
Don't be tempted by those "You are already approved" ads. The more often you apply for credit, especially if you are denied, the more likely it is that your credit score will slip. Be particularly careful about applying for several new accounts over a short period of time.