How to Increase Your FICO by Over 100 Points

Your FICO score determines the interest rate, as well as the types of loans offered during the financing process. The higher the FICO score, the better the overall loan offers will be. Therefore, it is in your best interests as a borrower to have the highest FICO score possible. With a few simple tasks, you can raise your score more than 100 points.

Instructions

1

Procure a copy of your credit report through a website like AnnualCreditReport.com. You may receive one free report annually; additional credit reports and access to your credit score require payment. You will have to provide the website with your full legal name, date of birth, Social Security number and a credit card to verify your identity.

2

Comb through the credit report. Note any errors and report them to the credit bureau immediately through the website. Keep track of any error reporting. The credit bureau is required to respond to your error notification within 30 business days. If the credit bureau disputes the validity of your argument, you may have to contact the original creditor to have the information removed.

3

Note any negative items, such as collections, liens, judgments or bankruptcies. Be sure to pay these items in full. While paying them will not dramatically increase your credit score, it will slightly lessen the impact and allow them to fall off your report sooner.

4

Pay down any installment debt, such as credit cards and lines of credit to less than 30 percent of the credit limit. This lowers your credit utilization and can quickly and dramatically increase your credit score.