How to Raise Your Credit Score in 30 Days

Here’s what you can start doing today so your credit score can improve — in the next 30 days.
Last updated Jan 7, 2020 | By Angela Brown
How to Raise Your Credit Score in 30 Days

FinanceBuzz is reader-supported. We may receive compensation when you click links to products or services mentioned in this story. The opinions and recommendations are the author's own and have not been reviewed, endorsed, or approved by any of these entities. Learn more about how we make money.

It’s easy to feel as if the smallest mistake can quickly sour your credit score. But since your credit score is usually updated monthly, when lenders report your payment activity to the major credit bureaus, there are things you can do within that time to raise your credit score as well.

That means that while negative activity usually takes around 30 days to hit your account, so does positive activity. So, if your score is a little low, whether that’s from carrying over too much debt from month to month or because you don’t have any established credit history, implementing these ideas can help speed the process of raising your credit score and making life a little bit easier.

Jump To

Why is credit important?

Like it or not, credit scores have a big effect on our lives, but most people don’t give their score much thought until they need to use it. If you have a low score, not only is it more difficult to obtain a loan or credit card but you’ll probably also pay higher interest rates than someone with a better score. Additionally, you may have a harder time getting an apartment or landing a job if you have poor credit.

That’s because your credit score is a number that allows potential lenders to decide whether they can trust you with their money. Your credit score directly represents your borrowing habits and payment history, so a lender is able to look at your score as a factor for determining whether or not they want to do business with you. While this may seem a little heartless, financial institutions need to make decisions quickly, and this score makes their job easier.

All this adds up to the simple fact that your credit score is an important piece of your financial health. And you should know how to keep your score in a healthy range, so you can reap the benefits when you need them.

What is a good credit score?

FICO credit scoring model

So where does your credit score fall in the bigger scheme of things? Credit scores can range from 280 to 850, depending on the reporting agency. Credit score are organized by ranges — excellent, good, fair, and poor — but the main thing to know is that the higher your number, the better. To qualify for the best rates, you’ll want to aim for a score in the 750+ range. At a minimum, keeping your score over 620 can help you qualify for most loans and credit cards.

10 strategies to improve your credit score in 30 days

If you’ve made a few financial mistakes, it’s easy for things to snowball and weigh your credit score down, but all hope isn’t lost. Here are ten of the best ways to increase your credit score fast.

1. Make sure your credit report is accurate

Perhaps the single most important thing you can do to help your credit score is to make sure your credit report is accurate. It’s recommended that you check your credit report at least twice a year, which can be done through a service like Credit Karma. Alternatively, you can request one free copy of your credit report from all three major credit bureaus — Transunion, Equifax, and Experian — each year by visiting AnnualCreditReport.com.

Removing bad or inaccurate information from your credit report could raise your score a considerable amount, depending on your findings. For instance, if you happen to have the same debt listed twice, removing this inaccurate information can lower the amount of debt listed, which will in turn lift your score. Since credit utilization typically makes up 20-30% of your score, this can make a big difference.

Read your report carefully. Look out for old debt that should have been removed, information that isn’t yours, and fraudulent charges. If you find an error, ask the credit bureau to fix it. If you find something on your credit report that shouldn't be there, you can file disputes at each of the credit bureaus: Transunion, Equifax, and Experian.

2. Use Credit Karma

A common myth is that checking your credit score lowers it, but this simply isn’t true. Checking your credit score is one of the best ways to stay on top of your credit health and to see what factors are impacting your score. This is especially important if you decide to borrow money, whether that be a new credit card or a personal loan, as your credit score will give you an idea of where you stand and what your chances are of being approved.

If you sign up for Credit Karma, you'll get free access to your credit score, reports, and monitoring and can be used as a tool for credit score improvement. Credit Karma shows your scores from TransUnion and Equifax, and checking your score has no impact on your score.

3. Pay bills on time

This is a given, but paying your bills on time affects your credit big time. Your payment history makes up a whopping 30-35% of your total score, so regularly missing payments or making late payments can really drop your score.

Your credit score could see a sizable improvement from making at least your minimum payment on time every month. Lenders want to see that borrowers can be trusted, and this is one of the best ways to show you’re a responsible borrower.

To decrease the chance of missing a payment, consider using autopay when available. That way, you won’t have to remember to write a check or log onto a website to pay your bill each month. This can save you time and, ultimately, money.

4. Use credit cards responsibly

Aside from earning cash back or travel rewards, credit cards are a great tool for building credit — if used responsibly. Emphasis on responsible here. As effective as a credit card can be for raising your score, they can just as easily damage your credit.

Whether you have no credit or poor credit, using a credit card and paying it off on time every month can boost your score quickly.

Bonus Tip: Try to pay your card before the reporting date (versus your due date) to boost your credit score even faster. Credit Karma will show you the dates lenders report your balances under the “Credit card use” section. You can use this to determine when you should make your payments so positive information is reflected quicker.

5. Pay down a credit card or loan

Your credit utilization ratio also affects your score. This is the amount of potential credit you have versus how much of it you are actually using — in short, whether or not you’ve got your credit maxed out or if you have lots of breathing room on your cards.

There are several different arguments for paying off credit cards. Some experts say you pay off the one with the lowest balance first, while other experts say to target the card with the highest interest rate to save the most amount of money.

If you want to raise your credit score quickly, consider paying down the credit card that is currently closest to being maxed out. Not only can your score go up by reducing the amount of your available credit that you are utilizing, but that credit card is also more likely to offer a credit increase — which takes us to the next tip.

6. Increase your credit limit on current cards

If you’ve been making on-time payments regularly for at least six months, consider requesting a credit line increase from your current lenders. While a request to increase your credit limit will generally result in a hard credit pull, which can ding your credit by a few points, the benefits of having a greater credit limit can have a higher impact.

If approved, your credit utilization ratio will drop, which tends to improve credit scores fairly quickly. Some lenders will automatically offer increased limits as well. This has no affect on your credit score and usually occurs on cards that have the most spending activity. Just be conscious not to overspend because you have more available credit.

7. Make payments twice a month

If you know you spend a certain amount of money on your account every month, make two payments instead of one to pay it off. This can help increase your credit score by keeping your credit utilization low.

For example, instead of paying $500 once per month, pay $250 twice per month. This way, the amount of credit you use stays low and is reflected in the algorithms run by credit reporting agencies.

8. Consolidate your debt

If you have more than one credit card with high interest rates, consider applying for a credit card offering a balance transfer promotion to consolidate your debt. Your credit score may improve since you’ll have a higher amount of credit available, and you’ll save some money by decreasing the amount of interest you’re paying. Additionally, it’s just less of a headache to pay one bill instead of two or three.

Credit cards that offer 0% APR on balance transfers can be a great way to consolidate debt and save money you’d otherwise be paying in interest charges. These periods usually run from 12-21 months. The Capital One® Quicksilver® Cash Rewards Credit Card, for instance, offers a 0% intro APR on balance transfers for 15 months. After the promotional period ends, however, your APR will increase, so make sure you have a plan to pay your balance off within this timeframe.

A word of caution: Hide your cards if you think you can’t control your spending. Balance transfers are a popular method to use to eliminate debt, but this strategy can backfire if you charge your credit cards back up.

9. Ask to be added as an authorized user

If you have a close family member or friend you trust and who trusts you, you can ask them to add you as an authorized user on one of their credit card accounts to boost your credit score. Ideally, the account should have a long history of on-time payments with a low balance.

Also, it’s good to know that you don’t necessarily have to have access to the account to benefit from the primary account holder’s good payments; you just have to be on the account. If they do give you access to the account, don’t do anything that will jeopardize their credit.

10. Don’t cancel old accounts

Whatever you do, try to maintain your oldest accounts. Aged accounts naturally help improve credit scores since they establish when you first began building your credit history. Your credit age can also show lenders that you have experience using credit responsibly. The older the account, the better.

One of the biggest mistakes people make is closing all their old credit accounts. Cut up the cards, burn them and stomp on the ashes (or melted plastic), but don’t close the account. Credit age makes up 15% of your total score and closing old accounts will weigh down your score. Even if you never use a line of credit, keeping it open helps mature your credit age over time. The experience counts in your favor, so do everything to maintain it.

Quick checklist: how to raise your credit score in 30 days

If you’re worried that your lack of credit history or financial mistakes have bogged down your credit score, know that there are steps you can take to raise it. Your credit score is usually updated every month or so when your payment activity is reported to the credit bureaus, so consider these ten ways to raise your credit score in the next 30 days.

  1. Make sure your credit report is accurate
  2. Sign up for Credit Karma
  3. Pay bills on time
  4. Use credit cards responsibly
  5. Pay down a credit card or loan
  6. Increase your credit limit on current cards
  7. Make payments two times a month
  8. Consolidate your debt
  9. Ask to be added as an authorized user
  10. Don't cancel old accounts

100% Free Credit Score

Benefits

  • Check your credit score for free
  • Get alerted when there are changes to your report
  • Learn how to improve your credit score
  • 128-bit encryption to protect your data
Advertising Policy

FinanceBuzz.com is an independent, advertising-supported website. Some of the offers that appear on this page are from third party advertisers from which FinanceBuzz.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).

FinanceBuzz.com does not include all financial or credit offers that might be available to consumers in the marketplace. FinanceBuzz.com does not include all companies or all available products.

FinanceBuzz has partnered with CardRatings for our coverage of credit card products. FinanceBuzz and CardRatings may receive a commission from card issuers.

Editorial Disclaimer

The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.