How to Improve Your Beacon Score Fast

Credit scores are associated with your credit report and reflect how you have handled your financial responsibilities. The credit score used with an Equifax credit score is referred to as a Beacon score. Raising your Beacon credit score is a process that, generally, takes time. There is, however, one area you can improve and see an almost instant rise in your Beacon credit score.

Instructions

1

Review your Equifax credit report and locate your credit card accounts (see "References"). Circle the credit card limit and the balance on the credit card.

2

Multiple the credit card limit by .20. Make note of the resulting amount. This calculation gives you 20 percent of the credit card limit.

3

Call the credit card company to find out the day of the month your account is reported to Equifax.

4

Reduce the balance on all credit card accounts to under the 20 percent before the date listed in Step 3. The credit score is based, in part, on the credit utilization of a credit card. Having a balance under 20 percent will raise your credit score immediately once the new limit is reported to Equifax.