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10 Guides On How To Raise Your Credit Score Fast



QUICK GUIDE: How raise your credit score fast

  • Once your bankruptcy or consumer proposal has been officially filed and sent to creditors, it’s time to rebuild your credit rating. There are strategies for success. Right off the bat, make your budget.
  • Then regain the trust of the lenders. To get there, take good financial habits. This means, among other things, making the payments you need to make on time and in full.
  • Another good tip is to start borrowing again. But not just any old way. In any case, if you show good behavior, your rating will go up.


1.  Make a budget

How to raise my credit score

Have you put your money problems behind you and are starting to consider taking out a new loan to finance a project? That’s great! But before you do anything, start with:

  • Draw up your budget
  • Identify the causes that led you to over-indebtedness to avoid falling back into the same traps

That way, you’ll get off on the right foot.

2.  Make your payments in full

Credit score range

If you are the type to pay the minimum of your credit card amounts , you have to do things differently to move your credit score up. Of course, paying the minimum amount is better than nothing. But if your goal is to improve your rating, you still need to pay your monthly balance in full and on time.


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3. Pay on time

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Another way to improve your credit score is to pay your bills, cards, and lines of credit on time. That means paying BEFORE the deadline, not waiting until the same day.

This is true even with small amounts, as any delay has an impact. Also, be aware that the more late you pay and the higher the amounts, the more your rating will be affected.


A tip to increase your rating: start borrowing again

It’s good to start applying for loans again after bankruptcy or a consumer proposal. It will help you regain the trust of lenders. But don’t just do it anyhow.

Start with loans that are easier to repay such as:

  • Apply for a credit card with a security deposit. This means that the bank will ask you to make a deposit to secure your credit limit. This maximum limit will be $ 1,000.
  • A loan application that you will be able to repay within a fairly short period of time (less than 3 years).


4.  Don’t use all your credit

Credit Score Chart

Use less than 50% of your credit limit. For example, if you have a limit of $ 1,000 on your credit card, never use more than $ 500.


5.  Keep your old accounts open


It’s always good to have a long credit history. So if you don’t have to change banks, don’t do it for nothing. Keep long-standing accounts (card or line of credit) as long as possible. This will allow you to show lenders that you are capable of stability. And if your history shows that you are a good payer over the long term, it will be a positive for your rating! We also suggest that you have only one credit card and keep the oldest one!

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6.  Check your credit report

What is the Highest Credit Score


If you are applying for a loan, always ask to see your credit report first, to check for errors. Loan application or not, it is even recommended to check your file once a year.

To obtain it, simply complete the online form at or at . It will be mailed to you free of charge. If you find a problem, you can have it corrected.


7.  Have only one credit card

Free credit score check

Having multiple credit cards is generally not a good practice . For many people, that leads to too much debt. In addition, having several types of identical loans (such as several credit cards) is bad for your rating. So, whenever possible, stick to one credit card – the one you’ve had the longest.


8.  Vary your loans

Highest Credit Score

Try to vary your types of loans. A car loan, a credit card, a mortgage, these are all different types of loans. Obviously, there is always a risk of debt when you multiply the loans (see the next tip). But if you are able to handle several types of loans and make all the payments on time, it will give your lenders confidence.


9.  Avoid making too many loan requests

Making repeated requests for loans suggests that you are at risk of going into debt. And if you are denied these requests, it will be bad for your score.

So above all, avoid:

  • To apply for a line of credit just to see if it will be accepted
  • To accept a credit card for discounts or gifts
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Instead, make several requests at the same time to several institutions. If you make several requests in two weeks, it will only count as one consultation of your file.

For example, if you apply for a mortgage with three different banks in the same week, it will be considered as a single consultation of your file.

On the other hand, if you make the requests two months apart from each other, three consultations will be recorded, which is less good for your rating.


10.  Show your stability

Obviously, it’s not something you can always control, but creditors like to see their clients have a stable address and job. It reassures them about your ability to pay. As much as possible :

  • Stay at the same address
  • Have a stable job

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