Here s how to repair your credit score in the fastest time frame possible. Pay Off Your Debt, And Pay On Time If you re starting to get stuck in a rising pile of debt, especially credit card debt, you can ask a family member to pay off the high interest first, and make arrangements with your family member to pay off what you owe in a month or so. Always ensure that your credit card expenses are mostly based on your actual needs, and don t use your card in paying for leisure items. Keep Your Credit Card Debt Ratio To Manageable Levels Always remember to keep your credit card balance paid off on a monthly basis. Also keep your card at a maximum charge level of 30 percent, and pay them off at the end of the month. 5 Common Myths About Credit Scores A person s credit score is an integral part of his financial life. A lot of agencies and individuals regularly look at your credit score, from banks, credit unions, utility firms, landlords, insurers and even employers. According to a recent survey, half of Americans don t exactly know how their credit scores are derived, or what factors are used to compute those three vital numbers. However, bankruptcy surely doesn't mean it's the end of the world for you. While bankruptcy can have a major effect on your credit score, it won't mean that you'll never be able to avail of credit again. While the recovery process may be quite long and stressful, and sometimes you ll only be left with nothing with your shirt on your back, or your pants and shoes, there is always light at the end of the dark tunnel. Non-Payment Of Apartment Rentals Defaulting on your apartment rental payments can also add to your credit rating woes. Your landlord can actually report that he or she has evicted you for defaulting on your apartment rent, and this would surely sne dshivers down most property management companies and mortgage lenders. A credit score is often generated by tracking data from a person s credit report, into software which analyzes it, and releases a number afterwards. The three major credit bureaus do not necessary use the same system, and use different names for it, therefore it should not come as a surprise if the scores the churn out are a bit different.