Learn from the Best: Lawrence Hicks Reveals Secrets to a Higher Credit Score
Learn from the Best: Lawrence Hicks Reveals Secrets to a Higher Credit Score

Elevating your credit score isn’t just about securing lower interest rates on loans—it’s about taking control of your financial future and unlocking new opportunities. Lawrence Hicks, a long-time financial expert and founder of AAIT Enterprises, has helped hundreds of people break free from the vicious financial cycle and improve their credit scores.
Understand Your Credit Report
One of the first steps in enhancing your credit score is understanding where you currently stand. You can request free credit reports from all three credit reporting agencies—Experian, Equifax, and TransUnion. Lawrence urges individuals to thoroughly review their reports for any signs of inaccuracies or items that could be dragging their scores down. These issues can include incorrect personal details, outdated account statuses, and fraudulent accounts. By identifying and disputing these errors, you can begin the process of improving your credit score.
Dispute Inaccuracies
If you find mistakes in your credit report, make sure you report them as soon as possible. When it comes to disputing errors, Lawrence recommends following the dispute process outlined by the relevant credit reporting agency. This usually involves submitting a formal written dispute, either electronically or by mail, and providing supporting evidence where necessary. Correcting inaccurate information can have a significant positive impact on your credit score.
Pay Your Bills on Time
Payment history is one of the largest factors affecting your credit score. To build and maintain a good score, it’s essential to consistently pay your bills on time, demonstrating reliability to lenders. Lawrence suggests setting up reminders or automating payments to ensure you never miss a due date. Even one late payment can cause a significant drop in your score, so timely payments should be a top priority.
Reduce Your Debt
A high debt-to-credit ratio can negatively impact your credit score. Lawrence advises focusing on paying down balances, especially those with high-interest rates. Reducing debt improves your credit utilization ratio—the amount of credit you’re using compared to your total available credit. Aim to keep your credit utilization under 30% for optimal results.
Avoid Opening New Credit Accounts
Applying for new credit can cause a temporary dip in your credit score. Lawrence advises against opening multiple new accounts within a short period. Instead, focus on managing your existing accounts responsibly. If you do need new credit, be strategic and make sure it aligns with a thoughtful financial plan.
Keep Old Accounts Open
The length of your credit history plays a key role in your credit score. Older accounts provide a longer track record of credit management. Lawrence recommends keeping these accounts open, even if they’re not actively in use, as they contribute positively to your credit history and demonstrate creditworthiness.
Diversify Your Credit Mix
Having a mix of credit types—such as credit cards, installment loans, and mortgages—can also boost your credit score. Maintaining various types of credit accounts in good standing shows lenders you can manage different financial obligations. However, Lawrence cautions against applying for new credit solely to diversify. Only take on credit you truly need and can manage responsibly.
Use Credit Wisely
Proper credit usage is crucial to maintaining a good credit score. Avoid maxing out your credit cards and try to pay off your balances in full each month. Lawrence advises keeping your balances as low as possible to avoid hitting your credit limits, which can significantly affect your score.
Conclusion
Building a strong credit score requires time, effort, and a well-structured plan. The strategies Lawrence Hicks teaches in Financial Literacy University can help you take charge of your credit, unlock financial opportunities, and shape a brighter future. Remember, every step you take to restore your credit is a step toward restoring your future. Whether you’re looking for better loan terms, a mortgage, or a way out of debt, Lawrence’s tactics offer the tools to achieve your financial goals.