8 Simple Ways I Boosted My Credit Score Fast

I’ve always been obsessed with my credit score, partly because of the industry I’m in and also because I know how important good credit is for anyone. A good credit score helps me get better rates and loan terms, and it also increases my chances of approval.

Here’s a little secret: my credit score wasn’t always as high as I wanted it to be. It’s where it is now because I learned the top ways to boost my credit score fast. While these tips may not work overnight, with consistency and effort, I improved my score significantly, and some of my methods may help you, too.

8 tips I used to boost my credit score

You must know your baseline before using my tips to improve your credit. This means learning how to check your credit scores. I receive mine from my bank and a couple of credit cards for free.

If you aren’t sure who provides them, check with your credit card companies to see what benefits they offer. Once you have access and know your baseline, you can use some or all of my tips to get your score where you'd like it.

1. Pay every bill on time

Your payment history is 35% of your credit score and is the largest factor affecting it. Paying your debt back on time shows creditors that you are a responsible borrower and know how to manage your money.

Not only does a timely payment history favorably affect your credit, but it also shows future lenders you are likely to make your future payments on time. This may result in lower interest rates or better loan terms on future loans. It could even mean the difference between loan approval and denial.

I ensure I pay every bill on or before its due date. If I slip up and miss a due date, I pay as quickly as possible. I do everything possible to avoid any payments that are 30 days or more late or missing a payment entirely, and my scores have increased as a result.

How to implement: Get a copy of your free credit report and see if you have any reported late payments. Make those payments immediately, then note all debt obligations and their due dates, creating a budget to make them on time without concern.

2. Check your credit utilization — and lower it if needed

Your credit utilization compares your revolving credit balance to your total available credit, such as a credit card or a line of credit. You'll see it expressed as a percentage, and you can calculate it yourself by dividing the amount of revolving debt you have outstanding by the amount of credit available.

I aim for a credit utilization rate of 30% or less, which means $300 or less in outstanding debt for every $1,000 credit line. Credit utilization is the second-largest factor in the typical credit scoring model, so I pay close attention to it.

Here's a quick example to help you understand how to calculate your debt-to-income ratio:

• Outstanding debt: $1,500
• Credit line $5,000

$1,500/$5,000 = 30%

How to implement: If your credit utilization exceeds 30%, consider using a debt payoff plan to lower your utilization rate. Remember, even reducing it by a couple of percentage points can positively affect your credit.

3. Raise your credit limit

Every few months, I request a higher credit limit from my creditors. Of course, this only works if you use your credit responsibly, pay your bills on time, and do not exceed your credit limit.

If you don't spend the new credit limit, this is a natural way to decrease your credit utilization rate. For example, if you have a $1,000 balance and your original credit limit was $2,000, that's a 50% credit utilization rate, which can hurt your score.

If the creditor approves a $2,500 credit limit, your credit utilization rate automatically decreases to 40%.

How to implement: Ensure your credit card payment history is in good shape and contact your credit card company to ask for an increased credit limit. Some offer this option online, and others require you to call. You may have to provide proof of income or answer a few questions before they say yes or no.

4. Avoid closing old credit cards

Not closing old credit cards is one of the easiest ways I've boosted my credit score. Even though it seems like a smart financial decision, closing old credit cards automatically increases your credit utilization rate because it decreases your total available credit. If, instead, you keep a credit card open with no outstanding debt, you lower your utilization rate and potentially increase your score.

Another issue with closing old credit cards is that it decreases the length of your credit history. While this is a smaller percentage of your credit score, it's still an important part of it.

My rule is to keep the card open as long as it doesn't have an annual fee.

How to implement: If you have credit cards you no longer want, lock them up in a safe or put them somewhere you can't access them. Don't close them. However, you may want to check with your creditor to see if you need to use the card occasionally (even once a year) to keep it active.

5. Remove errors from your credit report

My rule is to check my credit reports every few months. Since AnnualCreditReport.com offers free weekly access to credit reports, it doesn't cost me anything and allows me to stay on top of my scores.

Believe it or not, even credit bureaus make mistakes, so undetected errors on your credit report could bring your score down. The best way to check is to get a copy of your credit report — you can get one from each of the three major credit bureaus for free weekly.

How to implement: Sign up on AnnualCreditReport.com to get your free credit reports. You can pull all three credit bureaus at once or spread them out, checking one bureau at a time. If you notice any errors, make sure to dispute them right away by contacting the appropriate parties.

6. Consider score-boosting tools

This tip works best for people with limited credit profiles, but it may also work for others. Services like Experian Boost provide alternative ways to boost your credit score than the tips above.

For example, Experian Boost reports payments that the credit bureaus otherwise wouldn't know about, including utilities, cable, and streaming service bills. It connects to your bank account and each time you pay a bill on time, it boosts your score. The service is free, so you have nothing to lose.

How to implement: Head to Experian Boost to sign up for a free account. They’ll ask some personal questions to get you

7. Become an authorized user on another credit card

When I began building my credit, it felt like no one wanted to give me a chance. You needed credit to get credit, which felt like a double-edged sword.

To speed up the process, I asked my parents to make me an authorized user on their existing credit card. This provided me access to their credit account, and their on-time payment history was also reflected in my credit history.

This can be a gamble, especially if you don't know a person's financial habits, so use it cautiously.

How to implement: Consider asking your parents or other close family members who you know have good credit to add you as an authorized user to their credit card. You don't need access to the credit line to use it; you just need the credit history to boost your score.

8. Be careful when you apply for credit

Before applying for new credit, I always ensure it's because I absolutely need it, not just because I received a 'special offer' in the mail or at the checkout.

This is important because each time you apply for a financial product, the lender will do a hard inquiry on your credit, which could temporarily lower your score.

Whenever I need a new financing product, I inquire about a free pre-approval that doesn't involve a hard pull on my credit report. Many lenders will do a soft inquiry that doesn't affect my credit score and still tells me what type of loan I may get and at what terms.

How to implement:

1. Take a minute before applying for new credit.
2. Ask if the lender will do a hard credit pull, and if so, consider whether this is a necessity or if you're only applying because of a special offer or a spontaneous decision.
3. Spread out your applications as much as possible to avoid decreasing your score.

FAQs about improving your credit score

Bottom line

No one can increase their credit score overnight, but my tips can help you get on the right track. The key is consistency and patience. Monitor your credit report often, and make as many good financial decisions as possible to increase your score as much as possible.