Three Easy Ways to Improve Your Credit Score Fast

By | October 16, 2015

Before you get a loan for a car, boat or home, you need to make sure that your credit shows you are a worthy applicant. The lower your credit score is, the less likely it is that you might get a loan of any type. Experts generally view a good credit score as one that is above 700, and those with a score of more than 800 have perfect or almost perfect credit. When your score drops below 500, you need to know how to improve that score fast.

Kuba Jewgieniew

Request a Copy of Your Credit Report

Though you may dream of working with a professional like Kuba Jewgieniew to find a new home, you should request a copy of your credit report before looking at any homes. Now is a good time to look for any errors or issues on your report. You may find that your report contains credit card balances you already paid off, medical bills that belong to someone else or signs that someone stole your identity. File an official report with each of the three major credit reporting agencies about each issue. Those agencies should remove the issues after a detailed investigation.

Make Larger Payments on Time

If you pay only the minimum amount due on your credit cards, it will take years or even decades to pay off your debt, even if you stop charging things to those cards. Paying even $5 to $20 more than the minimum amount can help you pay off your debts faster. Make sure that you make those payments on time too. Paying even one day late can lower your credit score by a few points. When you stop using those cards and make larger payments on time, you can improve your score quickly.

Enroll in a Consolidation Program

Whether you work with Realty ONE Group or another real estate company to find a new home, enrolling in a debt consolidation program or plan might help you get the home of your dreams faster. These programs take all your debts, roll those debts together and let you pay a smaller amount each month until you pay off your debts. You may have the option of rolling higher debts over onto cards with a lower interest rate too. Improving your credit score fast using these easy methods can help you get the loan that you need.