Lenders rely on credit scores to make lending decisions. And as lenders are becoming more selective on who to do business with, the bar for credit scores keeps getting higher.

Fortunately, raising your credit score isn't all that difficult. But, getting a significant raise doesn't happen overnight. In this article, we'll be taking a look at how credit scores work. And, of course, how you can raise your credit score quickly.

What Is A Credit Score?

A credit score is a three-digit number that represents your creditworthiness as a borrower. In other words, your credit score tells lenders how likely you are to repay a debt. And the higher your credit score, the better you look to prospective lenders.

But where do credit scores come from? Credit scores are calculated using the information in your credit reports. These include information pertaining to your:

  • Payment History. Your history of making (or not) on-time payments accounts for 35% of your credit score.
  • Credit Utilization. The percentage of how much available credit you're using at a given time. Or, how much debt you have in relation to your credit limits.
  • Length of Credit History. This refers to how old your credit accounts are and how well you manage those accounts.
  • Credit Mix. Credit Mix considers the diversity of the types of credit accounts you have. The more diverse, the better your credit score.
  • New Credit. New credit accounts for the frequency in which you apply for new credit.

How Long Does Raising Your Credit Score Take?

Raising your credit score, by any significant amount, will take time. And unfortunately, there's no definitive answer as to how much time that will take. Because there is no timeline for gaining a set number of points.

Instead, how quickly you can raise your credit score depends on your credit habits. In short, the sooner you start implementing positive credit habits, the sooner you can raise your credit score.

How To Raise Your Credit Score

  • Pay your bills on time. Your payment history is the most influential credit-scoring factor. Thus, it makes sense that the best way to quickly raise your credit score is by paying your bills on time.
  • Keep your credit utilization ratio down. Paying down your credit card balances lowers your credit utilization ratio. To that end, you'll want to keep your debts as low as possible. Similarly, you can spread your debts over multiple credit cards.
  • Limit your credit applications. Whenever you apply for credit, your credit score takes a hit. Because a hard inquiry appears on your credit report. Granted, hard inquiries aren't negative marks. However, multiple hard inquiries in a short amount of time may signal that you're taking on a lot of debt. 
  • Establish a long and positive credit history. As mentioned, the length of your credit history accounts for 15% of your credit score. As a result, keeping your accounts open and in the green is a great way to raise your credit score.

The Bottom Line

Yes, raising your credit score isn't as difficult as some people make it out to be. However, it does take time. Ultimately, how quickly you can raise your credit score depends on how well you can stick to good credit habits.

That being said, errors in your credit report can derail your credit score-raising plans. As such, you'll want to correct and remove them. Call us at 888-799-7267 to schedule a Free Credit Consultation.


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