How to improve your FICO score is one of the greatest unsolved mysteries of the modern age. Everybody who has ever applied for credit has a credit report and a credit score, known as the FICO score. But how is it computed and how do you lower it and how do you raise it? Common sense would dictate that if you make your payments on time, your FICO score goes up, but there is much more to it. You could be paying your bills on time for years and your credit score may still be low, or you could have a couple of late payments on your credit report and still have a good credit score.