Improve Credit Score Fast

It is a well-known fact that a high credit score makes life easy. For a person with a high credit score, everything, right from getting car loans at lower rate of interest to getting new credit cards at reasonable terms and conditions to owning a house, can become a reality. A credit score of 650 and above is considered quite good, though 700 and above will have loan officers hounding you for business. So, if you want to know how to raise your credit score fast, then here are some useful tips and ideas, which you can easily implement, to improve credit score fast.

Tips to Raise Credit Score Fast

Pay Bills on Time
The simplest of all ways to improve credit score fast, is to pay all your credit card bills on time. Preferably, the payment should be made before the due date. If that is not possible, the next best thing to do is to pay it only up to 15 days late so that late fees is avoided. However, if the payment is late by 30 or more days, it will have a negative bearing on your credit score, so this should be avoided in all circumstances.

Settle Old Credit
If you have any unpaid student loan, medical bill or credit card charges pending, settle them as soon as you can. Credit accounts that are unresolved and are due for a long time, can hurt your credit score too.

Keep the Debt in Check
If you want to know how to boost your credit score quickly, it is advisable that you keep the amount due on the card below 50% of the total credit limit of the card. For example, if the credit card limit on your card is $ 2000, make sure that the debt on it is not more than $1000. If you are able to do this, it will certainly help to improve credit score fast.

Even Credit Card Balances
It is very important to even out the amount due on the various credit cards you hold, in order to improve credit card score fast. For example, if the credit limit of an account is $10000, and your debt due is $10000 too, it will have a negative impact on your credit rating. In such a scenario, having five credit cards and $ 2000 due in each of them, is a much more favorable position. So, even out the credit cards that you hold. Also, when doing so, keep the credit limit in mind. For instance, if you have a debt of $ 1500 in two credit cards, with credit limits of $ 5000 and $ 10000 each, then even out the debt, by keeping $ 500 in the first card and $ 1000, in the second one.

Keep a Track of Credit Limits
It is very important for you to know that your lender or bank is showing the correct credit limit, because if they are showing a lower credit limit, it can affect your credit card score. So, keep a track of your credit limit, and if there is a discrepancy, report it to the lending bank immediately, and they will update the information for you.

Create Goodwill
Another way to improve credit score fast is to create a goodwill with the lender. You can do that by making timely payments consistently for a year. After that, you can give the credit card issuer a written request to erase some late payments that you might have made before. If the lender agrees to do "goodwill adjustment", it will definitely improve your credit score.

Get a Secured Credit Card
If you have a steady job, regular income and ability to repay the balance due on the cards, then an easy way to improve credit card score fast is to get a secured credit card. For a secured card you need to deposit some money in your account, say you deposit $ 1000, then you can use the credit card for the same limit. This limit can be raised if you increase the amount deposited or if the bank itself decides to do so, if you maintain a positive credit history.

These are some of the ways to improve credit score fast. Being aware of your credit card details, making timely payments and being consistent with your efforts, will surely help you to achieve your goal.