A lot of people think it takes months, or even years to improve their credit score especially if they are already in bad credit or are near bankruptcy. But in reality there are ways in which one may increase his or her credit score within as short as 30 days. What is important is that these people know are the items used to calculate their credit rating and see how they can get through them.
Monitor and Correct Errors
There are times when errors occur in someone’s credit rating, and these usually lead to a negative score. It is important to continuously monitor and check your credit report once you receive it. Search for errors such as mistakes in calculations, already paid off loans and debts and plain wrong entries. Proof of paid bills such as receipts and other related records may be presented in order to verify the errors and proceed with corrections. In a matter of days these errors will be deleted and points will be added to the current credit score.
For more intricate errors, a dispute letter can be filed to the credit bureau in order to have the negative credit removed. It takes up to 30 days to clean up this mess, but its effects do make the waiting time all worth it.
Use a Trusted Family/Friend’s Credit
Sometimes piggybacking a family member’s or friend’s credit may do wonders to a person’s own credit score. This can be done by linking a friend or a trusted person to one’s own credit card application, as their credit scores are checked and verified. The same goes with applying for bank accounts or loans with required co-signers, as their credit scores add up to the applicant’s own credit rating as well.
When doing this, it is important to find someone who can be trusted, and at the same time has a good credit score.
Pay Off Debts with Cash
Paying off debts using credit cards only make the debt pass through other people’s hands, thus the person in debt would still have to pay for those borrowed money later on. Hence it is a good resort to pay off debts, particularly the personal ones with hard cash so that these accounts would not reflect in credit card bills as well as credit checks.
Make Purchases with Cash
Like paying off debts, make sure that purchases such as groceries or shopping items would be done in cash and not through credit cards. Credit card payments would still have to be paid by the end of the month with added interest, unlike cash where the buyer pays off the exact amount. Cash payments also offer credit check convenience, as they are not included in the items analyzed during a credit report.
Pay the Bills on Time
Paying all the utilities and monthly bills on time adds more points to a person’s credit rating faster and better. In case these monthly payments could not be met for a particular month, it is a must to inform the companies involved in advance so they would not submit the dues you missed out to the credit bureau and keep your score from getting any more negative points.