How To Improve Your Credit Score In 30 Days

By Raven Stewart / Posted: Mar 6, 2018 / 0 Comments / Posted in Personal Finance

improve credit score

Taking Charge of Your Credit Standing

There are lots of ways to ensure raising credit score quickly. The main thing is to know where you stand financially and then working around that. It automatically follows that if you have a good credit reputation, then you will have a high credit score.

Your score is determined by your capability to follow the payment terms and conditions set by the Lender!

What a Good Credit Score Means

There are numerous financial opportunities open to you if you have a good credit score. By keeping your debts at a low or manageable level, is one of the opportunities that helps your score. Low outstanding balances will give you a better chance of being approved for credit in other applications you might submit. Your capability to repay is a significant consideration to the lenders. By maintaining low credit, it reflects as having a good credit standing, and that increases your score.

Payments and Credit Score

Your score is greatly influenced by your credit history which includes all the activities linked to debts, such as late payment, delinquency and inability to pay. Your score increases along with your ability to pay timely at least the minimum amount. Late payments are recorded on your credit report, regardless of the amount that has to be paid, big or small.

The 30 Day Program to Improve your Credit Score

Can you raise your score within 30 days? It’s possible, but it means taking some positive action concerning all the elements that affect your credit and working out a way that they can be improved.

A great indicator of your financial freedom is just paying your bills on or before the due date. Paying after your due date reflects negatively on your credit record which contains all the details of your payment history.

Check Your Credit Report (Days 1 – 8)

This is obviously the first step to take. It not only lets you see what your score is, but also how you reached it. It gives you the opportunity to check all the entries and make sure they are accurate. Inaccuracies should be reported back to the creditors and get them to correct any errors. Inform the three Credit Reporting Bureaus of the changes. Then, get back to the creditors telling them you have informed the bureaus. That should hurry them up.

Raise Your Available Credit (Day 9 – 10)

This can be as simple as calling your Credit Card provider and asking for a credit increase. They are more than likely going to say yes if your actual payments have all been made on time. A higher credit limit can sometimes increase your credit score.

Become an Authorized User (Day 11- 13)

Add your name to an existing credit card held by a family member and one that has good credit. By becoming an authorized user on an established account, the borrower’s available credit may rise, which in turn can lower their debt-to-income ratio. It may help boost a credit score quickly.

Negotiate (Days 14 – 16)

A defaulted payment, be it a credit card or a loan, is a severe black mark on your credit report. It doesn’t have to stay on the report. Creditors are willing to accept a lesser payment to settle the debt. There’s no harm in finding out and then negotiating. That will remove that default from your file.

Make Minimum Payments on Time (Day 17 – 20)

Already mentioned above, but it keeps your credit score on an even keel. It doesn’t help to pay back the money owing very quickly, but it scores well on your report.

Reduce Your Debts (Day 20 – 22)

If you have outstanding Credit Card debts and loan repayments, it’s a good idea to stick with them. Stop using your credit card and stop borrowing. This will help you reduce your debt-to-income ratio.

Have a Right Mix of Debt (Day 23)

A mix of secured and unsecured loans may also be looked upon favorably by the lender as well as help your credit score.

Live Within Your Means (Day 24 – 28)

Another efficient way on how to increase your credit score quickly is by living within your means, and by not acquiring even more debts while still paying for existing ones. Overspending or spending for non-essentials can have a negative domino-effect on your finances and credit standing. By budgeting your income on a month-to-month basis, you can improve cash outflow, and you may be able to allot more for repaying debts and credit; Isn’t this another practical way on how to raise your credit score quickly?

Limit Your Credit Cards (Day 29)

You should not have more than two Credit Cards. One would be better and keeping your credit card debt under control with timely payments will help your credit score.

Keep Old Accounts Open (Day 30)

Keep good old accounts open, as they display a good history of your payments over long durations of time. Creditors and lenders would react positively to this information, and it could help you obtain credit easier. The older the account, the better it is for you, provided that you have maintained the account well.

It’s obvious that the days noted here are just a guide. In fact, some of the activities that you would do cross over into a few days and can be done in conjunction with other remedies. The tips above should hold you in good stead in your mission to improve and achieve a good credit score, thus make sure that you follow them!

Works Cited

1 Experian “What Is a Good Credit Score?”

2 Credit Karma Inc. “How long do late payments stay on my credit report?”

3 LifeHacker.Com “How Can I Remove Blemishes from My Credit Report?”

4 The Balance “How To Stop Using Your Credit Cards ”

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