8 (Eight) Free Ways to Build your Credit Score by 100 Points in Less than 30 days
Is it possible to boost your credit score by 100 points in less than 30 days? You’re about to find out. I’ll show you some of the things you need to do to improve your credit scores by as much as 100 points in less than 30 days. We’ve all made mistakes that have resulted in low credit scores…don’t be hard on yourself. No one is perfect.
Fortunately, there are ways to improve your credit score fast. Let’s cut the chase and get to the point. All you have to do is follow the steps I’ve laid down in this article.
1. Start by Getting a Copy of your Credit Report
Before you start working on your credit, you need your credit report of course. You can get your credit report and FICO scores for free from Credit Sesame, Credit Karma, and WalletHub. Get each credit report from these credit reporting bureaus. You don’t have to print it out; it just makes it easier to get a visual image of your credit profile.
2. Note Down the Negative Accounts
After getting your credit report, this is the next thing you’ll need to do. You go through it and note down all accounts with a negative report. You take note of any late payment and credit inquiries. Make sure your personal information is correct, including your address, employer, and phone number.
3. Correct Any Errors in the Credit Report
Call creditors by phone and ask to rectify the errors on your report. Then follow up with a letter making the same request and notify these credit reporting bureaus of the pending changes. Make sure creditors know the bureaus have been notified. It may motivate them to act quickly.
4. Pay off your Credit Card Balances
If you have any active credit cards, you need to pay the balance down to zero, or as close to zero as you can. Some “experts” advise people to pay their balances down to 15% and not any lower. The reason for this is because if you have zero balances it shows you have a lot of available credit and that makes you more of a risk. However, this makes absolutely no sense. There is no point where a lower balance goes from helping your credit score to hurting your credit score, complete nonsense. Pay them down to zero if you can.
5. Contact the Collection Agencies
If you have collection accounts with small balances on them or balance you don’t mind paying, you should call the collection agency. Tell them you wish to do a “pay for delete” where you pay the amount owed and they remove the negative account from your credit report entirely. Make sure you write down the person’s name and extension you spoke with.
You also need “pay for delete” letters in writing from the collection agency showing they agree to remove the account from your report completely if you pay the agreed upon amount. In some cases, you can settle the account for less than you owe, but many will want you to pay in full if they are deleting it from your report.
A defaulted credit card bill can leave a serious blemish on a credit report. However, it does not have to remain there forever. Consumers can ask creditors to accept a partial payment for a debt in return for reclassifying the debt as “paid.” Whatever the lender agrees to, make certain the agreement is in writing, and only pay the debt once the written agreement is in hand.
Sometimes, a creditor will provide you with a good-will adjustment; that’s if you’re a long-time customer. You can then apologize to the creditor for late time payment. If you’re forgiven, your credit score can rise within 30days.
7. Become an Authorized User
By being authorized on an established account, your available credit may rise, which can reduce your debt-to-income ratio. This may help boost a credit score quickly.
Read Also: 6 (Six) Ways to Handle Debt Problems
8. Raise your Available Credit
You can request a higher credit limit from your creditor. This can in turn help increase your credit score.
There you have it; 8 Free Ways to Build your Credit Score by 100 Points in Less than 30 days. I hope these techniques work for you as they have worked for many. Let me hear your thoughts in the comments and please don’t forget to share this article with your friends on social media.