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Several factors are taken into account when determining your credit score. Among them are your payment history, your level of debt, and the length of your credit history. If you want to increase your credit rating as quickly as possible, then concentrate on these three things.
Your payment history concerns not just payment of credit cards and loans, but your utilities, mortgage, and basically any other monthly bill you have. Virtually all of them report late payments to credit bureaus, so missed or late payments will lower your score. Pay your bills on time, and it improves.
Your level of debt mostly revolves around your outstanding credit balance, as opposed to mortgages and loans. Having your credit cards maxed out, or nearly so, implies that you do not know how to handle your finances adequately and are overly dependent on credit. However, some debt is a good sign- having a zero balance on your card can impact your score negatively.
The length of your credit history can only be fixed with time. Generally speaking, the longer your credit history is the better. Therefore, if you have several cards, and are looking to cut down to just one or two, it would be better for you to keep the ones you've had the longest.
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