Having a good credit score is an important criterion in becoming eligible for loans and credit cards. You can easily improve your credit score from 500 to above 700. Initially, you need to get your credit report and find the negative issues on it and the reasons for your score drop. Do note that it takes few months and good credit discipline for the score to improve to 700 as this process also involves the time taken by the lender to report to the bureau.  

Follow the steps given below to maintain a good credit health

Pay your credit card bills and repay the loans on-time

Maintain low credit utilization ratio

Have a good mix of credits

Try to pay the full amount of your credit card bill.