There may be quick ways to increase your credit score if it’s lower than you want. It could add up to 100 points quickly, depending on what is supporting it.
Your credit score distribution could see dramatic results, which could lead to more access to loans or credit cards, and at better terms.
People with lower scores have more upside because there is more room for growth, and slight improvements lead to more considerable increases.
Pay Bills On Time
If you pay late, no strategy for improving your credit will help, as it is payment history that is the most significant factor to credit scores, and overdue payments can remain for seven and a half years on your credit reports.
If you miss a payment for 30 days or more, immediately call the creditor. Pay if possible and ask whether the creditor will consider not reporting your missed payment to the credit bureaus.
Even if the creditor does not, it is worth keeping the account up to date and the impact of the missed payment happily decreases. Showing more positive credit conduct following a mistake can help compensate your damage faster and improve your credit quickly.
Make Frequent Payments
Making small micro-payments throughout the month will help you keep your credit card balances low and improve your credit score. The needle moved to a credit score factor called credit utilization when making multiple payments throughout the month. This is another factor that influences your score after your payment history.
If you can keep your use low rather than allow it to build to a payment deadline and benefit immediately from your score.
Dispute Credit Report Errors
Your credit score could be lowered because of a mistake on one of your credit reports. Fixing it can help you improve your credit score quickly.
Each of the three main credit bureaus, Equifax, Experian, and TransUnion, is currently required to provide you with a free report. If you use Credit Repair of Phoenix, you can get your reports more frequently and examine them for errors like overdue payments when you paid on time or negative information that is too old to be listed.
Once you have found them, file a dispute to have them deleted. Credit bureaus agencies have 30 days to investigate and reply. Some companies claim to dispute errors and improve your credit quickly but tread carefully if you pick this option.
Keep Credit Cards Open
Remember that closing credit cards can make the job more difficult. Closing a credit card will lower your overall credit utilization and result in a lower credit score. Use the card occasionally to keep the issue from closing it.
Mix Up Your Credit
Consider getting a line of credit you don’t have if you have only credit cards or loans. Lenders consider a revolving credit history to increase your perceived creditworthiness. Credit Repair of Phoenix can help with all the above techniques and more to improve your score in around six months.