3 Ways to Increase Your Credit Score Now

Copyright (c) 2011 Suzy Vanstrusen

Rebuilding bad credit can take a few months to a few years, depending on the how bad the damage is.

It doesn't matter how low your present credit score is, the important is thing is to know the right steps that you can do to raise that number. In this article, let's discuss the top three ways you can do to raise your credit score.

Correct glitches in your report. Finding errors in your credit report is actually not a rare case. A lot of consumers discover wrong information or incorrect charges in their reports upon checking them. Sometimes, another person's credit file may get mixed into your file which can cause your score to drop. The good news is that you can do something to fix those errors.

First, order a copy of your report from each of the three major credit bureaus. As every bureau does its individual reporting, it's finest to ensure the truthfulness of all your three reports. Once you receive your copy, carefully examine the document and look for possible inaccuracies.

In case you find any, you should write a dispute letter and send it to the bureau that issued your report. Be certain to send your letter through registered mail to make convinced that it will get to the bureau. You may need to wait for 30 days before the investigation is completed.

If your complaint is found valid, you will be sent an updated copy of your report for free. The bureau must also contact the other two credit agencies regarding the corrections made in your file. If your dispute is found void, the bureau will notify you about the result of the investigation.

Pay your debts. If the charges in your report are correct, then the best way to raise your score is to pay your creditors. Since 30% of your score is based on your credit utilization, your goal should be to pay down as much debt as you can and lower the percentage of your used credit.

If it's not possible to pay all your creditors at once, check your highest rate debts and pay these first. Find possible solutions to pay your debts as soon as you can. For instance, you should try negotiating with your creditors as you may be able to request for a lower interest rate or for some of your fees to be waived so you can have a better chance of catching up with your payments.

Avoid incurring new debts. Your top goal is to pay off your debts and free up as much credit as you can. Definitely, this is not the finest time to begin applying for new loans or new credit. If you own credit cards, be doubly alert on how you use them.

If you have to use your credit cards to avoid your accounts from getting inactive, utilize them only for minimal purchases that you can compensate in full. Thus, you would not have to compensate the interest rates and not on time fees. Most importantly, you can avoid inflicting more damage to your credit history.


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Suzy Vanstrusen is a credit analyst and a writer of a website and has been providing consumers with tips and tricks in credit repair. Check the site to help you out with your online credit report.