Looking to boost your credit score? Here are some actions you can take to make an impact quickly!
1. Even the score. Any inaccuracies in your credit history can lead to an unfair score. Check your report at least once per year to confirm the accuracy of the information being reported. If you do find something that looks wrong, you can file a dispute with the major credit bureaus. Be sure to have your bank statements and receipts handy to show as proof as they may request it.
3. Do not close out a card. As much as simplifying might feel good, a sudden drop to your credit-spending power does not look good to the credit bureaus. Try to keep your longest standing credit cards active, even if that means only swiping them once per month to buy gas.
5. Create some balance. While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quicker spike in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt.