How Can i Raise My Credit Score Fast?

Answer 1

To be clear, to improve your FICO credit score, you must demonstrate continued good behavior, not just stop bad behavior, if any.

Try to pay off your balances, but do not close the accounts once you pay them off.

15% of your FICO score is for length of credit history, the longer the better. The average credit user has an oldest open account that has been open for 14 years. Where do you fit on this scale? These are the toughest FICO points to earn. They also score you on the average length of time all your open accounts have been open. So if you close the old account, you'll hurt your score because (1) you lose your oldest account and (2) the average age of your accounts goes down.

30% of your score is credit utilization: how much of your credit limit is used up by your balance? On each revolving account, you need to keep your balance below 30% of your credit limit, or you will hurt your FICO score. For example, if you have a $200 credit limit, you must not have a balance higher than $60, which is 30% of $200. So a paid off account will have a zero balance on it, and you can't get any better than 0% utilization. They also look at total utilization: they total up all your balances, and all your credit limits. That total percentage utilization must be kept below 30% of total credit limits, or you'll hurt your FICO score. Close the old paid off account, and you'll take away $0 in total balance, but you'll take away all those dollars in credit limit, and up goes your total utilization, and maybe down goes your score. If you have the money to pay down balances, this is the easiest way to raise your score. You'll see big results in about a month or two, as long as it takes your creditors to report your payments to the 3 major Credit Reporting Agencies (CRAs).

10% of your score is on credit mix. The good types of credit are mortgage, secured car installment loan, prime (unsecured) major credit card (MC, V, AmEx, Disc) and store cards (Macy's, Home Depot, etc.). The bad types of credit are payday loans, personal-finance loan accounts for purposes of cash advances, still-secured credit cards and overdraft loans. Ideally, you want to have at least one account for each of the good types of credit. Close the last account in one of the good types of credit, and down goes your score.

As for payment history, you must pay at least the minimum every month without ever being late, or you will hurt your credit score.

Let's suppose you have paid off all the balances on your credit cards. Keep your open cc accounts healthy by making one small, NECESSARY purchase (one purchase of groceries, gasoline or a utility bill on autocharge to the cc) each month and using auto-pay to pay it off in full the next month. No finance charges necessary to score max FICO points for the 35% of your score that is for payment history. Just purchase your way, once each billing period, to a small positive balance, and pay it off in full after the bill arrives, before the due date.

10% of your FICO score is about new lines of credit. Every time you apply for credit, the lender makes a hard inquiry into your credit history, and this type of inquiry hurts your FICO score a few points. You get all these hard inquiry points back over the course of a year after the hard inquiry, and the inquiry falls off your reports at the 2-year mark.

Lastly, get your free annual copies of your credit report at http://www.annualcredit report.com and go over them carefully for mistakes. About 70% of the population has a mistake on at least one of their credit reports. Dispute your mistakes and if your dispute is accepted, you might get a score increase as a result.

Please vote: Did this help?

Answer 2

There are very few ways to raise you credit score fast. You might have a chance if you can get a major derogatory item removed, but this would only work if you had no other major derogs on your report. For instance, if you have perfect credit except for a charge-off that just recently occured, you could dispute the charge-off and your score would go back up while the account is being disputed. As soon as the creditor verifies the item your score would go right back down.

The scoring models used by lenders normally incorporate FICO or some other system that looks at your credit over time. The only way to raise your score is to pay your bills on time and pay down your revolving credit accounts.

Answer 3

You can't. I mean come on think about it, if people could minipulate their own credit score in the short run, wouldn't everyone have an 800 credit score?
Its just like dieting, you by 500 diet books and joint 50 programs, but in the end....stop eating so much, eat better food, exercise. We all want the quick fix.
To improve your credit. Pull your report at FTC.gov.
1.Pay off collection accounts and public records, utilities, cell phones etc. Get a payoff letter in writing before paying off. Try to deal directly with the original creditor if possible.
2. Do not make any inquires for at least a year.

Answer 4

Dude - If you really want to raise your credit score fast, you gotta check out the Credit Secrets Bible - It has helped tons of people raise their scores over 200 points in a couple of months.

If you want to raise your credit score fast The Credit Secrets Bible will show you how...

http://www.squidoo.com/How-to-Raise-Your-Credit-Score-Fast/

Answer 5

These so call professionals are clueless. I raised my credit score from 498 to 708 in 60 days. It does cost some change though. Here is the website I used to do this. www.seasonedtradelines.com

Answer 6

Ummm, you will not attain an 800 this twelve months or next.Sorry, its impossible. Pay your expenditures on time like your lease, automobile, credit enjoying cards, cellular telephones. additionally, in case you ought to purchase something and pay it off, purchase it on credit and pay it off in a 2 or 3 months, ie. a television, or refridgerator. Too many open bills (ie distinctive credit enjoying cards) can decrease your score. And being on the brink of your shrink on those enjoying cards will decrease your score as properly. solid luck!

Answer 7

You'll need to evaluate your credit history and score. At that point you can dispute any account that you feel is inaccurate. Listen, on my answers profile you'll find a link that can help you repair your credit.

Best of luck,

Answer 8

Win the Lotto and pay off all your debts.