For Better Credit, Sometimes All You Have to Do Is Ask

— -- One of the top questions people ask me is how to improve their credit score. I often reply, “All you have to do is ask.” They look at me, confused, and say, “I just did ask. What’s the answer?” I then apologize for the lame consumer reporter humor and explain that I mean they should ask their creditors for three things that can almost instantly improve their credit score.

First of all, check your current credit score, which you’re trying to increase. The credit score that matters most is still the FICO score, and you can get it straight from the source.

Once you know your score, here are the three asks that can improve it:

1. Ask for a higher credit limit.
One of the key factors in your credit score is your credit utilization ratio, or how much credit you use compared with how much you have available to you. If you have one credit card with a $10,000 limit and $1,000 of debt on that card, your credit utilization ratio is 10 percent. You want that ratio to be as low as possible. The best way to change the ratio is to pay off debt — the top number in the ratio — but if you’re not in a position to do that, why not attack the bottom number instead? You can do that by simply asking your creditors to raise your credit limit on credit cards or other loans. I have found over the years that they often say yes to keep your business. Important caveat: Once you have this additional credit, do not use it. That would only ruin the new, lower ratio you just obtained.

2. Ask for positive reports.
Your credit score, from 300 to 850, is calculated based on information in your credit reports. Your credit reports are like biographies of your handling of all your credit accounts over time. But just like any other history, they could be missing some details of what really happened. And if those details are flattering to you — like timely payments or payoffs — the oversight could be hurting your credit score. Also, creditors could have information that they did not report to all three of the major credit bureaus: Equifax, Experian and TransUnion. So go to annualcreditreport.com, the free credit report website set up by the federal government, and get your reports. Then go through each and compare them against one another to see if there’s positive information missing. If there is, contact the creditors involved and politely ask them to report this good news about you.

3. Ask for negative deletions.
Just as creditors have the power to add positive information to your credit report, they also have the ability to delete negative information. They won’t do this willy-nilly, but if you can show that you are a steady, stable customer who made an error, you’ve got a great argument. If your error was caused by some sympathetic situation like a hospitalization or a death in the family, slather that on thick as well. The crucial key here is to be able to show that the mistake that is dragging down your score is out of character. So gather your documentation, then simply call up and ask. If you reach an unhelpful low-level employee, don’t get snippy. Rather, praise the person for being so helpful but say you want to speak to a supervisor because you know what you’re asking is unusual. If you’re a significant and longtime customer, never be afraid to remind the person how much the company should value your business and how many offers you get to go elsewhere.

Elisabeth Leamy is a 25-year consumer advocate for programs such as “Good Morning America” and “The Dr. Oz Show.” She is the author of “Save Big” and “The Savvy Consumer.” She is also a professional speaker, delivering talks nationwide on saving money, media relations and career success. She receives her best story tips from readers, so please connect with her via Twitter or her website to share your ideas.

Any opinions expressed in this column are solely those of the author.