What Is the Fastest Way to Increase My Credit Score by 50 to 100 Points?

Any time you want to borrow money from a legitimate lender, the lender will check your credit score. A credit score is a three-digit number that credit bureaus use to summarize your credit history from the last seven years. If you're looking to take out a mortgage, an extra 50 to 100 points on your credit score can save you a fortune in interest payments. If you're careful, you can raise your score in one or two months.

Instructions

1

Request free copies of your credit report from Experian, Equifax and TransUnion, the three major credit bureaus (see Resource section).

2

Check the reports for errors. The quickest and easiest way to raise your credit score is to find mistakes. A small error can cost you hundreds of points. If you do find an error, contact the credit bureau as soon as possible. The bureau will investigate and get back to you within 30 days.

3

Pay off some of your debt. You can raise your credit score by decreasing your debt-to-credit ratio. Lenders are wary of borrowers who max out their lines of credit.

4

Continue making all your monthly payments on time. The easiest way to ruin your credit score is to skip a couple of payments. Late payments are almost as bad. Not only will they ruin your credit score, but you will have to pay a late fee.

5

Keep your oldest credit cards. It'll help you establish a long-term credit history.

6

Limit the number of new applications for credit. Every time you make a new application, the lender will run a credit check. Credit checks are recorded on your credit history. Several checks in a short time makes you look desperate for credit and will hurt your score.