How to Boost Your Credit Score Fast

How to boost your credit score fast - Lenders, insurers, landlords, and even recruiters in the United States regard credit scores as indicators of solvency. Your total is based on three versions of your borrowing history — the documents compiled by TransUnion, Equifax, and Experian

Consumers should keep an eye on their scores and make improvements before applying for new credit. If you need a boost as soon as possible, the following tips may come in handy.

how to boost your credit score fast

Is the Score Fair?

You will never know until you check your records. Your score may be skewed due to reporting mistakes. If this is the case, you may opt for paid services. Such companies operate in most states — check this article by Gerald Dunigan from Credit for the best providers in your area. 

These firms can do everything for you — collect your information, analyze it, prove the errors and dispute them formally. 

Having a fair score is the starting point whatever your goal. Whether you want to meet the requirements for car loans or get a mortgage, check your status well in advance. 

To gather your own reports, go to the only website authorized to provide them. On, you can download the files for free once a week until April 20, 2022. Before the coronavirus pandemic, this was only possible once a year, and consumers were charged for more copies. 

Consider the records from all three sources — Experian, Equifax, and TransUnion. The bureaus do not share information with one another. As the reports are compiled separately, any of them may be flawed in different ways. 

Related: 3 Ways to Save Money Instantly Online

Note that every dispute takes 30-45 days, and the preceding analytical stages require time. As a result, the first changes to the score may occur in 1.5-2 months. 

In general, the standard duration of repair is 3-6 months depending on the severity of the problems. The more errors — the longer it takes to clean the records. This is not a quick fix. Consumers should check their reports regularly to prevent the accumulation of inaccuracies.

Get a Boost Fast: Six Ways

The first three methods are related to the way you use credit cards. As a type of revolving credit, they affect 30% of your FICO score through utilization. This is the proportion between the sum of balances and the sum of limits on all cards. 

For example, someone with three accounts giving $5,000 of available credit has a utilization rate of 50% if $2,500 is used. This is way higher than what experts recommend — around 10%. So, what can you do to bring down the ratio?

how to boost your credit score fast

1. Bring Down Your Balances
Obviously, you could pay off the balances — partly or entirely. In our example, getting to 10% would require paying $2,000 across all cards. Naturally, not every consumer can afford this. The utilization issue may be approached from a different angle.

2. Gain More Available Credit
If you cannot reduce the balance, make at least minimum payments and ask for a limit extension. If your bank refuses to do this, you can get another credit card from a different issue. 

Remember that utilization is calculated for all cards. The new limit will also work in your favor. If getting a regular card is difficult, consider applying for a secured credit card. These are easier to get because they require a deposit.

3. Make Frequent Payments
Your bank communicates with the bureaus according to its reporting cycle — usually, every 30 days. The amounts reported are used to calculate utilization and your score. What happens if you had a perfect balance, but suddenly had to make a large purchase — say, for $1,000? The utilization rate seen by the bureau shoots up, affecting the total.

To prevent this from happening, make more frequent payments. Whenever you get some spare cash, put it into your credit card account. Make micropayments throughout the month.

4. Use Experian Boost
This reporting agency allows you to expand the range of data used for scoring. Why this online tool, you may add your phone bills, utility payments, Netflix or HBO subscription, etc. The boost is quite modest, though — consumers have added 12 points to their histories on average. Still, this could be the difference between the 'fair’ and 'good’ categories.

5. Pay Bills On Time
Skipping payments or delaying them is a major problem. Make every effort to avoid damage to your history and score. Set automatic reminders and auto payments to have peace of mind. In case of financial difficulties, contact the lending institution right away — you may negotiate restructuring or refinancing. 

Do not wait until the payment is marked as missed or delayed. It will stay in your history for 7 years, and there will be no way to remove it. If the delay is unsubstantial, you may be lucky. Here is why. 

Every lender follows a special reporting cycle. As a rule, missed payments are reported 30 days after the due date. If you can make the payment sooner, it may not appear on your records.  

6. Become an Authorized User
Do you have a friend or a family member who is a highly responsible borrower? You may ask them to include you on their account as an authorized user. This way, their limit will become part of your utilization. If you have a thin file, this will also be favorable for the age of history, which defines 10% of FICO.

Explain that you will not be using the funds, and this is only necessary to boost the score. The holder does not have to tell you their account number. This is one of the fastest ways to get a boost.

Final Tip: Do Not Close Credit Card Accounts

Even when you do not use a credit card, its limit is included in the size of available credit. If you want to get a boost, keep the account open unless the service costs are too high. The issuer may close inactive cards, so try to use it occasionally.
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