10. Make High-Impact Payments
Not all debt is created equal. Paying off certain things before others can net you a valuable credit score increase — even if your total debt is the same.
"As you evaluate options for repaying debt either through debt consolidation or other forms of cash raise, keep in mind that paying off $20,000 of credit cards might boost your score 100 points, whereas paying the same amount of student loans or mortgages will barely bump your credit score, if at all," said Sahil Gupta, CEO and co-founder of Patch Homes, a provider of debt-free, home equity loan financing.
"In general, revolving debt and some forms of unsecured debt are more high-impact than secured debt. So, prioritizing credit card and personal loans payment above other loans is good strategy," Gupta said. "The way to make a higher impact via secured loans like mortgages etc. is to re-cast them — ask your lender to redo the principal and other terms of the mortgage. That could help bring down payments and boost credit."
Read: The Best Ways to Pay Off Every Kind of Debt