Are you looking to boost your credit score in a hurry? If so, you’re in luck! In this blog post, we will discuss some tips that will help you improve your credit score in less than a month. We will also talk about some of the factors that influence your credit score and how to keep track of it. So, whether you are trying to get ready for a big purchase or just want to make sure your credit score is in good shape, this blog post is for you!
1. Get the facts straight. One of the first things you need to do is get a copy of your credit report. You can get this from any of the three major credit reporting agencies: Experian, TransUnion, and Equifax. Once you have your report, take a look at it carefully to see if there are any errors. If you see anything that looks wrong, dispute it with the credit agency. This can help improve your credit score right away.
2. Pay down debt. One way to quickly lower your credit utilization ratio is to pay down your revolving debt, such as credit card balances. Doing so will have a major impact on your credit score—up to 30% of it, in fact. That’s because this factor, known as your credit utilization ratio (or the amount you owe versus your total credit limit), is one of the most important aspects of your score. For optimal scores, aim to keep that ratio below 25%. So, if you have a credit card with a $12,000 limit, try not to let your balance exceed $3000. Paying down debt is an effective way to quickly improve your credit score.
3. Become an authorized user. If you’re looking to give your credit score a quick boost, becoming an authorized user is a great way to do it. By piggybacking off of someone else’s good credit history, you can see your score start to rise in no time. Just make sure that you don’t actually use the card – that could start to hurt your credit instead of help it.
4. Open up another line of credit. Another easy way to give your score a bump is by opening up a new line of credit. Getting a new credit card will give you access to more credit, even just on paper. Because your credit utilization ratio considers all credit available to you, adding another line of credit can provide an immediate boost to your credit score. Again, just make sure that you’re not using too much of your available credit, or you could end up doing more harm than good.
5. Don’t close your oldest accounts. One way to improve your credit score is by maintaining your oldest accounts and keeping them active. This is because 15% of your credit score is based on the length of your credit history. So, if you have a credit card that you don’t use often, consider dusting it off and using it every now and then and be sure to pay it off at the end of the month so you don’t lower your credit utilization. It also helps establish more positive trade lines at the same time.
6. Solicit some goodwill. We all make mistakes, but who says you have to live with them forever? If a late payment is dragging your credit score down, call your creditor and politely ask them to exhibit some goodwill. Remember that creditors can remove bad information anytime they like and if keeping your business is important to them, they’ll often forgive a late payment here and there as long as it’s not a common issue with your payment history. While creditors are not obligated to agree with your request, you’ll never know until you ask.
7. Add rent, cell phone & utility payments to your credit. If you have a history of on time rent and utility payments, you can have those items reported to the credit bureaus. This will add more positive trade lines to your credit report by showing more accounts with an on-time payment history, giving your credit score a quick boost. Sign up with a company like LevelCredit by Self and they’ll help make the process quick and easy.
8. Ask for help. If you want to boost your credit score but feel overwhelmed by the process, you don’t have to go it alone. Seek the help of a professional credit repair company and let them guide you through the process. With their help, you can improve your credit score in no time!
Improving your credit score doesn’t have to be hard. In fact, with a few simple steps you can see results in less than a month. By following the tips we’ve outlined in this blog post, you can get on the right track to having a good credit score. And remember, it’s important to keep an eye on your credit score so you can identify any potential problems and address them quickly. So what are you waiting for? Get started now!
