How to Improve Your Credit Score - Credit Score Resources

Improving your credit score fast is achievable with the right strategy. After comprehensive research from credible financial sources, we've assembled our favorite top 10 methods to boost your credit score quickly:

1. Pay Down Credit Card Balances to Under 30 Percent: One of the quickest ways to improve your credit score is to maintain your credit utilization below 30 percent. This indicates to potential lenders that you can manage your credit responsibly. For instance, if your total credit limit is $1000, aim to keep your credit balances under $300. Source: chase.com - How to Quickly Improve Your Credit Score
2. Don't Miss Payments: Late payments can negatively impact your credit scores. To prevent this, set up automatic payments for at least the minimum amount due. If you're having difficulty affording a bill, reach out to your credit card issuer to discuss hardship options. Source: experian.com - How to Improve Your Credit Score
3. Check Your Credit Reports Regularly: Constant monitoring of your credit reports can help track your progress. If you find any errors, you can file a dispute. If approved by the credit bureaus, the error can be corrected within 30 days, which may raise your credit scores. Source: creditkarma.com - Can I raise my credit score fast?
4. Become an Authorized User: If you lack a long history of credit card ownership, consider becoming an authorized user on someone else's account. Ensure that the primary cardholder has a good credit history as their credit behavior will affect yours. Source: chase.com - How to Quickly Improve Your Credit Score
5. Apply for a Credit Card: Applying for a credit card and making timely payments each month can help build a positive payment history. Keeping your card expenses low can lead to a low credit utilization ratio, which can positively impact your credit scores. Source: forbes.com - How To Improve Your Credit Score
6. Pay your bills more frequently: Keeping your credit balance as low as possible at all times is an excellent way to reduce credit utilization, which means you'll need to pay your bills more frequently than once a month at the end of the billing cycle. You can strategize the timing of any extra payments by contacting your bank or credit card company to find out when they send your information to the nationwide CRAs — and then paying your bill just before they report. Source: equifax.com - How to Raise Your Credit Scores Fast
7. Pay Down Debts: Reducing the amount you owe can significantly improve your credit score. This includes paying down both credit card balances and installment loan amounts. Although it might initially cause a temporary dip in your score, in the long run, lessening your debt will contribute to a lower credit utilization ratio and overall debt, leading to an improved credit score. Source: wsj.com - How to Improve Your Credit Score, According to Experts
8. Hold Old Credit Accounts: Keeping your old credit accounts open can contribute to the length of your credit history, which is a factor in calculating your credit score. Even if you don't use these accounts regularly, maintaining them can help demonstrate a longer credit history and potentially boost your credit score. Source: bankrate.com - How long does it take to raise your credit score?
9. Apply for a Secured Credit Card: If you're encountering difficulties getting approved for credit, consider opting for a secured credit card. These cards usually require a security deposit and can be effectively used to build credit with responsible use and timely payments. Source: capitalone.com - How to Improve Your Credit Scores
10. Diversify Your Types of Credit: Many credit-scoring models consider the number and type of credit accounts you have. A mix of installment loans and credit cards may improve your score. Source: federalreserve.gov - 5 Tips for Improving Your Credit Score

Remember, while these tips can aid in improving your credit score quickly, it's also important to maintain good credit habits in the long run. When you take care of your credit it can open up great opportunities to save with credit card sign-up bonuses and cash back rewards.

If you want some help in your journey boosting your score, we found these 3 free ways to assist:

1. Chase Credit Journey - Track your credit score and learn how to build it with Chase Credit Journey.
2. Chime Credit Builder - Start building credit for free. No annual fees, no interest, or large security deposits. No credit check to apply.  Chime report to all 3 credit bureaus to help you build credit over time. Members see an increase of 30 points on average.
3. Experian Boost - Only Experian can raise your FICO® Score instantly—for free. Get credit for the bills you already pay with Experian Boost, like utilities, video streaming services and now rent.