How to Raise Credit Score FAST! (14 Easy Tricks)

Could your credit score use a boost? Or are you just wondering how to raise it quickly? You’ll love these easy tips and tricks for How to Raise Credit Score FAST!

Steal my secrets to increase your score quickly with these 14 EASY Tips! Tip # 8 is a game changer!

How to Raise Credit Score Fast

So are you wondering How to Increase Credit Score Quickly? These hacks can help you build your credit and get you back up to that solid score you’ve been after!

Having a strong credit score is important for so many reasons!

Whether you’re looking to buy your dream home, get a better rate on car insurance, get approved for that car loan, or take advantage of lucrative credit card sign up bonuses… these tips are for YOU!

So are you ready to learn how to raise your credit score fast?

Here’s what you need to do…

Related: How to Pay Off Debt Fast! (10 Easy Tricks)

#1: Understand What Makes Up Your Credit Score

If you are trying to improve your credit score, it’s important to know just how your score is created by the different credit bureaus.

So what makes up a credit score?

When it comes to your credit score, there are several factors that go into calculating your score, including…

• Payment History
• Amounts Owed
• Length of Credit History
• New Credit
• Credit Mix

It’s also important to know that just one negative item on your credit report can lower your score by as much as 110 points.  

That means that just one negative item on your credit report could be enough to keep you from getting that new loan you want!

#2: Know What Credit Score to Aim For

Don’t know your score? It’s okay… I’ll show you how to check it for free!

But first, what is considered a good credit score?

Credit Score ranges can vary slightly based upon the scoring model, however here are what some typical scores are often considered…

• Good Credit Score: 675+
• Very Good Credit Score: 750+
• Excellent Credit Score: 800+

#3: Now Go Check Your Credit Score for Free!

How Can I Check My Credit Score for FREE?

Did you know that you actually have 3 different credit scores?  Each major credit bureau (Experian, TransUnion, and Equifax) creates their own credit report for you and these reports may differ.

There are several ways you can check your credit score for free, but my favorite is AnnualCreditReport.com. This site will offer you free credit reports from all 3 major credit reporting agencies.

Once you’ve received a copy of your credit report, take some time to review the report to make sure there are no errors in your credit history or personal information.  Also check to see if there are any negative items being reported.

Now that you know what your credit looks like, it’s time to put into action these tips for how to raise credit score fast…

#4: Become an Authorized User on Someone Else’s Credit Card

Do your parents or spouse have a good credit score?

One simple trick is to have them add you on to their credit card as an authorized user.

Before they do, just make sure to verify that the credit card company will report information about credit card account to the new authorized user’s personal credit reports. If they don’t, try on a different card. If they do, that’s great news for you!

For the main primary card holder to maximize the benefit of adding an authorized user to a credit account, consider doing the following:

• Use the credit card every month.
• Only use a small amount of the available credit limit.
• Pay off the entire credit card balance every month.

We did this for both of our boys when they turned around age 18, and it helped give their credit an immense boost!

#5: Make a Budget and Stick To It!

Creating and sticking to a budget is such a smart way to help you manage your spending.  

Here’s the best part. When you spend less, and pay down your credit cards and other loan balances, your credit score will improve!

1. Make a list of all your fixed monthly expenses.  These would include bills like your mortgage, insurance, and utilities.

2. Make a list of all your monthly expenses that are not the same every month.  These would include groceries, gas, clothing, entertainment, travel, etc.  Estimate how much you actually spend on each of these variable expenses each month.

3. Add together all your fixed and variable expenses.  If your total expenses are less than what you take home in pay each month, the difference can be used for savings and paying down debt (like your credit card balances).  If your total expenses are more than what you earn each month, you’ll need to find realistic ways to cut your expenses to ensure you are spending less than what you earn.

Not sure how to create your own budget? Consider looking online for one of the amazing free budget tools that are available.

Related: How To Save Money Fast!

#6: Aggressively Pay Off Your Credit Cards (+ Don’t Carry Balances)

Are you wondering is it better to pay off your credit card or keep a balance?

Simply put, it’s always better to pay your credit card in full each month and never carry a balance. Here are 3 reasons why you need to pay off your credit card every month:

1. Paying off your credit card every month is an easy way to make sure you’re sticking to your budget.

2. You’ll avoid paying the crazy silly interest rates that credit card companies love to charge you.

3. Paying off your balance every month is an easy way to give your credit score a boost.  When you avoid carrying a credit card balance over to the next month, it demonstrates to companies that you have an excellent payment history.  It also shows that you can be trusted to pay your future bills… like the mortgage payment on that home you’ve always dreamed of owning!

#7: Increase Your Credit Card Limits (+ Pay Attention to Utilization Rates)

So is it a good idea to increase your credit limits?

In addition to always trying to pay off your entire credit card balance each month, also consider increasing your credit card limits.  If you are currently carrying a balance on a card that is 30% or more than your credit limit, this could negatively impact your credit score.

To improve your credit card utilization rate, request that your bank increase the credit limit on your card.  You can also consider opening a new card.  When a lender is calculating how much credit you are using, they look at the sum of all your credit card limits.

Keeping your credit card balance below 30% of your total credit limits will show that you can be trusted to use credit responsibly… and that means your credit score can go higher!!

#8: Keep Old Credit Cards Open

Is It Worth Keeping An Old Credit Card? It sure can be!

When it comes to your credit score, the older your credit card account the better!

Closing an old credit card account can actually hurt your credit score.  To get the best credit score, it can take up to 7 years of open credit accounts and on time payment history.  When you close an old account, you’ll actually shorten the average age of your total credit history.

If you do want to get rid of a credit card, consider closing a newer credit card account first!

#9: Pay Your Student Loans On-Time

If you’ve got current student loans, they can be another useful tool to building credit! It’s even a way to build credit without a credit card!

College can be expensive… trust me, I know. I graduated from a private university in Seattle, and the tuition was astronomical!

If you have student loans, it’s okay. Most of us are required to take out some sort of student loan while attending school.  Paying these monthly loan payments consistently and on-time is important, and can be really helpful when building credit.

Remember, you build a high credit score by using your debt responsibly.  So make sure you keep a close eye on those student loans, and manage them carefully. Only take out the loans you absolutely need.

Then stay organized, track your loans, and pay them off as quickly as you can.

#10: Pay Other Bills Early!

So should I pay my bills early? Well… when your credit score is reviewed, one of the top things company’s look at is your payment history.  Scary, right?!?

So after you create a budget and start using it, you’ll already have money set aside to pay each of your monthly bills.  Simply pay your bills as soon as you receive them to ensure your payments are received before the actual due date.  Paying your bills early greatly reduces the risk of your bill payments being received late.

Also, when you pay your credit card bills before their due date, a lower balance will be shown at the close of that billing cycle. A lower balance means the appearance of less credit card debt, which just may help your credit score!

#11: Use Your Cell Phone Bill to Build Credit!

So can I add my cell phone bill to my credit?

Normally your cell phone bill is not reported to the credit bureaus. However, with newer tools like Experian Boost you can now have your cell bill and other bills manually added your credit report to boost your credit score.  In addition to your cell phone bill, you may also be able to add your Electric Bill, Gas Bill, and other Telecom Bills.

In addition to Experian Boost, you can also use UltraFICO to build your credit.  UltraFICO uses information from the bank accounts you link to supplement your credit score.

#12: Keep a Stable Job

So do lenders look at employment history when applying for a loan?

Yes they do. So when you are looking for how to increase credit score quickly, don’t overlook the importance of your job history.

Your job can be one of the primary factors that a lender will look at when reviewing your future credit applications.  In fact, lenders frequently review your last 2 years of employment history when you’re applying for a home mortgage.  That means having both a longer employment history and a steady income can be as important to your loan approval as your efforts to build credit.

Related: Legit Side Hustles Ideas to Skyrocket Your Income!

#13: Can Paying Rent Improve Credit Score?

With sky high inflation, rent can cost even more than a mortgage on a home… but what if your rent could actually help you increase your credit score?

It’s likely that your rent payments are not being reported to the different credit bureaus.  To see if you can get your rent payments reported to the credit bureaus, simply ask your landlord to report your payments using a service like COZY, PayYourRent, or Experian Rent Bureau.  

Ultimately it will be up to your landlord to report your rent payments to the credit bureaus, but it doesn’t hurt to ask!

#14: Do Car Loans Increase Credit Score?

Yes they can. In fact, a car loan can be one of the easiest ways to increase your credit score quickly. The trick is to make sure that you manage your car loan wisely. How? It’s really simple. Just make sure to always pay your monthly car payment on time… or even early!

My hubby actually purchased one of his first cars with a high rate loan, because he didn’t have very much credit. He then paid all of his car payments on time or early for the next 6-8 months.  Afterwards, he used the credit he had established to refinance the car loan down to a significantly lower interest rate.

So as you take steps for how to raise credit score, don’t overlook the importance that lenders place on having a longer employment history!

I hope the ideas I’ve just shared for how to raise credit score fast will help you get started on the journey to having amazing credit.  As always, the content on this site is not financial advice, but shared just for informational purposes.  The information you’ll find on this site is never a substitute for financial advice obtained from a professional familiar with your specific situation and individual circumstances.

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So have you tried any of these tips for How to Raise Credit Score Fast?

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