5 Ways to Increase Your Credit Score Fast
Your credit score matters a whole lot more these days. It’s not just looked at when you apply for loans or credit cards anymore. It can actually impact you in a lot more ways, your credit score can decide whether you’ll be accepted or denied a rental agreement, an insurance plan, or even a new job.
But, if you’d like to turn your bad credit score into a good one, we’ve got some ideas on how you can do that. If you’re already paying your bills on time, and no major red flags are corrupting your credit report, you’re in a good position to up your credit rating. With a little work and determination, you can use these 5 ways to increase your credit score fast.
1. Take an In-Depth Look at Your Credit Reports
The best place to start is knowing what you’re dealing with. Request your credit reports from the three national credit bureaus – Equifax, Experian, and the TransUnion. Check every report making sure that everything is accurate, and if it isn’t, you should contact the companies to have it corrected.
If you’ve ever had any of your accounts go into collections it stays on your report for 7 years. So, if you’ve exceeded this time, call up and get the records removed. You can get credit reports once a year for free from the government. But, to stay on top of your score, you’ll want access to it more than once a year. Various credit card services offer this as a free service as part of using their credit card. These companies include Discover, Barclays, and many more. To see if you already can utilize this service contact your credit company.
2. Pay Off as Many Debts as Possible
Another simple way to take charge of your credit score to pay off your credit cards, especially if you are reaching your credit limit. A big part of your credit score comes from your salary to debt ratio. By decreasing your debts, you’ve got a great chance. However, you might struggle to come up with the money, but you can get creative and make new forms of cash flow if you really try.
There are many options you can take to earn extra cash. You could start a side-gig such as freelance writing, pet sitting or pick up a part-time job on the weekends. Additionally, start by selling your possessions, list stuff you don’t need or use on sites like eBay or Craigslist.
