How to Improve Your Credit Score in 30 Days

Improve Your Credit Score in 30 Days

Do you want to improve your credit score?

If you’re looking for a way to improve your credit score, then it can be done.

In fact, if you follow the steps in this blog post, you could see an improvement in as little as 30 days.

You don’t have to wait years or even months for your credit score to go up – all it takes is a few minor changes and some patience.

By following these simple tips and tricks, you can see your credit score will increase within 30 days!

And just think of how much easier life will be once that happens. No more worrying about whether or not landlords will accept you because of bad scores.

No more waiting on hold with creditors who won’t take “no” for an answer. No more stressing over bills and interest rates…all those things will become a thing of the past when people start seeing how responsible and trustworthy you really are.

In this post, we will review how to improve your credit score in 30 days by following these 10 steps.

 

1. Get a Copy of your Credit Report

The first step in improving your credit is to get a free copy of your credit report.

Your credit report is a history of your credit and will let you know exactly where you stand. This step allows you to see the whole picture to deal with any problems or discrepancies right away.

You can get a free credit report from MyAnnualCreditReport.com.

This site is sponsored by the three major credit bureaus and will show you a copy of your report from all three sources.

Once you’ve obtained a copy of your credit report, you can begin going through it and identifying problems or discrepancies that may be hurting your score.

 

2. Pay Your Credit Card Balances Down

Paying your credit card balances offers one of the fastest and best way to improve your credit.

If you have a credit card debt, you probably know that the number of times interest is applied makes a big difference in your monthly payment.

But did you also know that it’s going to impact your credit score?

The more times interest is applied can hurt your score. In fact, having balances reported as 30% of available credit can hurt your score.

For example, if you have a credit card with a $1,000 limit and owe $300 on that card, then about 30% of your available credit is used up by that balance. Therefore, when your statement closes (and interest is applied) at the end of the month, it will be reported as such.Charging small amounts and paying them off quickly will show that you have a different mix of credit in use, which ultimately makes up a portion of your FICO credit score.

Lenders will look at your total available credit as one of the factors for approval. By paying down your debt, it will demonstrate that while you have the available credit, you don’t need it, thus will be able to pay back the loan you are applying for.

 

3. Ask for a Higher Credit Limit

One of the best ways to improve your credit score with lenders is to ask for a higher credit limit.

If you’ve been using the same credit card for a while, chances are your credit utilization has gone up since you first got the card. Unfortunately, this isn’t good news for your FICO score because it shows that you are using more of that credit now.

There are two ways to fix this – you can either pay your balance down or ask for a higher credit limit.

You’re probably thinking, “Doesn’t asking for a higher credit limit increase my debt to credit ratio?” The answer is no because lenders don’t want you maxing out your credit cards.

By asking for a higher credit limit, you are showing them that you are in control of your spending habits with a low credit utilization rate and can handle more credit responsibly. Plus, this is another way to show lenders how responsible their potential customers are when they ask for the highest amount possible.

 

4. Pay Your Bills on Time

This one’s pretty obvious, but it’s vital.

If you are consistently paying your bills on time, this will not only improve your scores with creditors but can also help lower the amount of money that you pay in interest every month.

Avoid late payments at all cost. If you are unable to afford paying the entire balance on your credit card off, pay at least the minimum monthly payments. You’ll want to demonstrate good payment history to your potential lender. The minimum payments will be reported as on time, even though you’re not paying the full balance.

A great way of ensuring on time payment is setting up automatic payments on your credit card account.

 

5. Keep Balances Low

It’s essential to keep your balances low.

Using more credit decreases your available credit. Your credit utilization ratio, also referred to as credit utilization ratio, helps lenders determine if you can afford a loan based on what you already owe.

It’s calculated by looking at the amount owed on all of your credit cards compared to the total amount available. So, for example, if you owe $500 and you have a limit of $1,000, this would be 50% utilization. Having high balances on your credit card signals to the potential lenders that you are unable to pay your debts off and could impact your ability to get approved for a loan.

The lower the percentage, the better your score will be. Keep this in mind when calculating how much credit to use and how much to leave available.

 

6. Don’t Close Accounts That Can Help Your Score

If you have a card near its limit, consider transferring the balance to another one of your cards instead of closing it.

This is because if you don’t pay the balance off before closing the account, it will hurt your credit utilization.

If you have one card with a high limit, but the majority of the credit is used on that same card, then transferring some or all of that balance to another card can help lower that percentage.

 

7. Become an Authorized User on Someone’s Account

Becoming an authorized user on someone else’s account is another way to improve your credit score quickly.

There are a few ways that this can be done. You can either become an authorized user on someone else’s card, or you can ask for them to add you as an authorized user to one of their cards if they already have one.

 

8. Dispute Errors on your Credit Report

Reported mistakes on your credit report can happen. If there is any collection account, late payment on student loans or any other credit accounts on your report that are inaccurate, you should dispute them right away because they can have a negative impact on your score.

It’s straightforward to do, and all you have to do is call or write a letter to the credit bureaus and ask that the mistake be corrected.

Finally, it’s important to note that you will need to ask for a corrected copy of your credit report every time.

Don’t give up because it might take longer than 30 days to correct, but eventually, they will, and your score will be improved.

 

9. Sign up for Experian Boost

Experian Boost is a program that allows you to improve your credit score by adding on some of your everyday expenses to improve your score.

Some of these items include your phone bill, utility bill, and even Netflix!

All you have to do is make those payments on time, and the score will be improved.

You can also sign up for this program if your score isn’t as high as you would like it to be. Once you sign up, you may see your score improve immediately.

 

10. Get a Secured Credit Card

If you have a hard time building credit because you don’t have a credit card, consider getting a secured credit card. While this will be more helpful for people who are new to credit, it could also be an effective way to rebuild their credit.

The benefits of a secured card are that you have to pay it upfront and your deposit amount usually equals the credit limit. You can use this type like any other regular plastic, but on-time payments will help build up good standing with lenders who offer them as an option.

 

Consider Using a Credit Repair Agency

If you are investigating how to improve your credit score in 30 days, you are probably targeting a home loan, auto loan, or a new credit card with a favorable interest rate.

If you find it takes too long to accomplish these tasks on your own, consider a credit repair agency such as Credit Saint or Lexington Law.

These companies work to improve your score by disputing items on your credit report, much like you would do yourself, but they have the money and expertise to accomplish these disputes quickly.

In addition, they can also fix other inaccuracies that might be hurting your otherwise stellar score.

Many people consider this option when they are looking to borrow money quickly.

The one catch is that you will pay them for their services, but it could be worth it if you need new credit fast.

 

What Type of Improvement Should I Expect After 30 Days?

If you have implemented the above suggestions, your credit score should improve after 30 days.

How much an improvement depends entirely on your current financial situation and the credit score you are starting with. To ensure your score continues to improve, keep up the good work and stay on top of all your financial accounts.

It’s important to practice patience and curb your expectations. Credit scores do not magically increase overnight. Depending on your current situation, it may take longer than 30 days, especially if you are disputing items on your credit report.

That said, if you can pay down debts and keep your utilization low, you should see an improvement within 30 days.

Conclusion

Improving your credit score in 30 days is possible, but it’s not an overnight fix. You’ll need to take the steps outlined above and be patient for results.

Especially if you’re disputing items on your credit report, don’t expect a quick turnaround time of less than 30 days-it may even take longer depending on what type of errors are being disputed.

The most important thing to consider when improving your score is patience. It will take some work on your part as well as financial responsibility all year long so that any past mistakes won’t ruin everything you’ve worked hard for! Once you achieved a good credit score, you’ll want to keep it there.

If you are pressed for time and prefer a professional to assist you, consider using Credit Saint or Lexington Law to help expedite your credit repair journey.

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