how to increase credit score quickly

When you have a good credit score, you can get better terms and lower interest rates on loan products and credit cards. But it’s not always easy to just boost your credit score overnight. First, you need to consider why your score is low.

Below, we get advice from credit repair software and a couple other experts on how to increase credit score quickly and tip for making it happen.

 Pay down your revolving credit balances

If you have the funds to pay more than your minimum payment each month, you should do so. Chipping away at your revolving debt can have a major impact on your credit score because it helps to keep your credit utilization rate low.

“How quickly depends on how quickly the individual creditors report the paid balance on the consumer’s credit report.” Triggs says. “Some creditors report within days of the payment, some report at a specific time each month.” Credit card companies typically report your statement balance to the credit bureaus monthly, but this could vary depending on your issuer. You can call or chat online with your card issuer to find out when they report balances to the bureaus.

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