- Pay your bills on time
- Reduce credit card balances
- Check your credit report for errors
- Limit new credit applications
- Consider a credit builder loan
Pay Your Bills on Time
Paying your bills on time is one of the most effective ways to quickly increase your credit score. Set up automatic payments or reminders to ensure you never miss a due date.
Reduce Credit Card Balances
High credit card balances can negatively impact your credit score. Aim to keep your credit utilization below 30% by paying down balances or requesting a credit limit increase.
Check Your Credit Report for Errors
Regularly review your credit report for any inaccuracies that could be dragging down your score. Dispute any errors with the credit bureaus to have them corrected.
Limit New Credit Applications
Each new credit application can result in a hard inquiry, which can temporarily lower your score. Limit new applications to only necessary ones to avoid unnecessary dings to your credit.
Consider a Credit Builder Loan
If you have trouble getting approved for traditional credit, consider a credit builder loan. These loans are designed to help you build credit by making small, manageable payments.