10 Tips to Improve Your Credit Score Quickly

Your credit score plays a big role in your ability to qualify for loans, credit cards, and other lines of credit. The higher your credit score, the better interest rates and terms you can qualify for, which saves you significant money. Use the following tips to start improving your credit score right away.

Table of Contents

# Review Your Credit Reports
# Pay All Bills on Time
# Reduce Credit Card Balances
# Limit New Credit Applications
# Ask for Credit Limit Increases
# Don’t Close Old Credit Cards
# Correct Any Report Errors
# Become an Authorized User
# Monitor Your Credit
# Practice Healthy Credit Habits

# Review Your Credit Reports

The first step is getting copies of your credit reports from all three credit bureaus – Equifax, Experian, and TransUnion. Review the reports closely and dispute any errors with the bureaus. This can quickly help boost your score.

# Pay All Bills on Time

Payment history carries the most weight in credit scoring calculations. Set up autopay or calendar reminders for bill due dates to avoid missed or late payments which damage scores.

# Reduce Credit Card Balances

High credit card balances negatively impact your credit utilization ratio. Pay down balances to below 30% of your credit limit on each card. Use the debt snowball method to eliminate debts faster.

# Limit New Credit Applications

Every application results in a hard inquiry on your report that can modestly ding your score temporarily. Apply for new credit only when absolutely necessary for the next 12 months.

# Ask for Credit Limit Increases

Higher credit limits positively influence your utilization ratio. If you’ve had an account open more than 12 months with on-time payments, request periodic credit line increases.

# Don’t Close Old Credit Cards

Keep your oldest credit lines open to show a longer, positive history. The age of your credit history also factors into your score.

# Correct Any Report Errors

If your reports contain any false information like accounts that aren’t yours or incorrect balances, submit documentation to correct the errors immediately.

# Become an Authorized User

Ask a family member with good credit to add you as an authorized user on a credit card. This can give your credit a boost from their positive history.

# Monitor Your Credit

Sign up for credit monitoring services to keep tabs on your credit. Many banks also offer account holders free access to credit scores and report updates.

# Practice Healthy Credit Habits

Going forward, use credit responsibly by spending within your means, not maxing out cards, and paying balances in full each month to build an excellent credit history.

Improving your credit score takes consistency and discipline, but following these steps can help boost your score significantly in under a year. Monitor your progress monthly until you reach your credit goals.