How to Increase Your Credit Score in 30 Days
Do you want a better credit score? If that’s your goal, you can follow the sage financial advice of paying down your debt little by little, always sending in bills on time, and building a report filled with well-seasoned accounts.
While that’s all great, what about if you need a better credit score immediately – or sooner!
Many consumers who are applying for a mortgage, an auto or business loan, or even applying for a job are faced with the sudden reality that they need a credit score increase virtually overnight.
While good things usually come to those who wait, the good news is that Blue Water Credit can work with you to see significant credit score improvements in short order in most cases. You can download a copy of our credit repair e-book 30 points in 30 days.
Just to get you started (since time is of the essence!), here are 7 strategies to help you answer the question, how can you increase your credit score immediately?
1. Ask for a credit line increase
Of course, you can pay all of your credit cards down in one felled swoop, but most people don’t have the thousands (or tens of thousands!) of dollars sitting around to do that. So, another smart way to improve your credit utilization ratio with a quickness is to improve your total available credit. Just by calling your creditors and requesting an increase, your utilization ratio will look much better, even with the same amount of debt, and your score will rise accordingly!
2. Become an authorized user on another person’s account
Of course, a well-seasoned tradeline in good standing would help your credit score. So, why not
get creative and add yourself to another person’s credit card or account as an authorized user? Once that’s done, that tradeline will appear on your credit report, too, and could offer a considerable score improvement. It may be crafty, but it’s not illegal or even unethical, as many people use authorized users as co-signers to get approved for loans (just make sure that they pay on time!)
3. Integrate tradelines that aren’t on your credit report now
Most people don’t realize that credit reporting is optional for most businesses, which means that they don’t have to send in data about your payments and balances. And some accounts like cell phone agreements, Internet service, utilities at home, medical debt, and more won’t show up because there’s nothing in it for the creditors. But you can simply give them a call and request that they start reporting your long history of on-time payments, which will give your score a positive push.
4. Request that creditors remove late payments from your report
Maybe you missed a payment a while back, but other than that, you’ve been a great consumer and always paid on time. Believe it or not, you can directly call up your credit card, bank or lender and respectfully and politely ask them to remove the negative mark of that late payment. They may just do it, which will improve your credit score drastically. But, if they don’t, you haven’t risked or lost anything by asking! Once they do agree to remove the negative, ask them for an official letter with confirmation so you can send that to the credit bureaus if necessary.
5. Erase your collections with pay-for-deletion
Collections on our credit reports can be tricky, sinking your score for the long term. But even if you dispute them or start paying them off, they can hurt your credit score since that will trigger recent activity of the collection. However, there may be another way to expunge old collections from your report – paying for deletion. Simply contact the collections company (not the original creditor) and ask them if you can settle, sending in a partial payment immediately in exchange for full satisfaction of the collections, as well as their removal of that account from your credit. Just remember to get it in writing, once again!
6. Process a Rapid Rescore
Maybe you’ve paid down debt, added new positive tradelines as an authorized user, or even had old collections removed. But your score still won’t go up overnight because it takes time for the credit bureaus to register those events. Luckily, we have the option to process a rapid rescore, which will recalculate your score based on these positive changes within a couple of days or so.
7. Call Blue Water Credit!
How can you navigate all of these changes, strategies, and techniques, making sure that they’ll work and you don’t do even more damage to your credit? Contact Blue Water Credit, as we can take a look at your credit report and come up with a comprehensive plan that will allow us to work as a team to give your credit score a big boost as quickly as humanly possible – or quicker!