Timely payments make for happy credit card owners, while late or missed credit card payments are an exercise in futility, and paves the way for your constant haranguing by collection agencies, and also cuts deep wounds in your credit score. Avoid Getting Extra Credit Cards If you can live with just one credit card, then by all means remain happy with only one card at your disposal. The good thins is that there are a number of ways for repairing your credit score quickly. 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. A credit monitoring service often informs their clients of any changes to a person s credit file, whether it comes as a result of late payments, change of address, new employers, new inquiries or bankruptcies and other public records. If you re still undecided regarding which credit monitoring service to sign-up with, here are a few pros and cons of signing-up with credit monitoring services. To develop the credit scoring system, a creditor generally weighs each of the major factors, based on how each of the factors predicts whether a person is deemed a good credit risk. Credit scores generally have a range between 300 and 850. Here s a rundown of the standard score range. 300 499 Bad Credit 500 580 Poor Credit 580 619 Low Credit 620 679 Average Credit 680 699 Good Credit 700 850 Excellent Credit Regularly Monitor Your Credit Score According to credit experts, a good to excellent credit score is often weighed as a future sign of your credit value, and if your credit score is Good, then your future loan s interest rates will certainly be lower than usual. Although it may take a while for a person to rehabilitate his credit score after bankruptcy, the impact of the bankruptcy though dissipates over time. To restore your credit worthiness, you will need to add new trade lines to your report, as well as take on other forms of credit, like a small appliance loan, so that your credit score will not stagnate. Don't Ask For A Higher Limit From Your Credit Card Company If you have a credit card, don't be tempted to call your credit card company and ask for a higher limit, because this can help ruin your credit score. Next, don't open any extra credit card accounts, because by having an extra credit card, or by canceling the other one, you can do major damage to your credit history.