A low credit score is something that can become an albatross around the neck of any person, regardless of how respectable or famous. A person with a low credit score would find it difficult to get any more loans or even be trusted by firms and organizations. The reason for this is simply the fact that low credit scores are seen as a symbol of the person's inability to do anything accurately, incompetence and, of course, his lack of reliability. This is why the moment that people realize that they have a low credit score they become conscious of what it means and start to look for ways to get rid of it. The only way of getting rid of it is to pay the owed money and clear the debts.

1. Start paying installments regularly

As mentioned above, the only way to get rid of a low credit score is to pay all the money that is due to different institutions and organizations. The primary cause for people having low scores is that they default on their monthly installments for one reason or another. This means that any and all pending installments must be completed and then maintained regularly. This would include everything from home loans and car loans to personal loans and credit card bills. In fact, one of the most common traits amongst people with below average credit scores is that their credit card balances are less than 50 percent.

2. Take payday loans or cash advances to bridge gaps

However, even the most diligent and reformed person may find it difficult to arrange the money for the installments sometimes. For example, a medical emergency can easily result in the person running out of all his reserves and temporarily being unable to pay the home loan installments. In such cases, maintenance of the credit score is possible with the help of payday loans or cash advances. While salaried people can tide over these tough times by taking payday loans, small to medium scale businessmen can support their situations with business cash advances. Both these instruments are temporary tools that are ideal for a person who is having trouble paying the installments from some traditional loan because of some emergency.

3. Tone down lifestyle, stop spending and start saving.

A person who has a low credit history can only have acquired it by having an enormously unlucky phase in life or an exceptionally extravagant lifestyle. Notably, the majority of cases are rooted in the inability of the person to hold on to his desires, whims and fancies. Hence, as is obvious, toning down one's lifestyle and stopping useless expenditures can easily give a major boost to the person's financial condition which, in turn, would enable him to stay current with all his installments. Furthermore, a low key and more relaxed lifestyle with minimal expenditures would also result in the person saving money which can be used to cut down the duration of the loans themselves.