On the Way to 850: Improve your Credit Score in 24 Hours
Is it possible to improve your credit score in 24 hours? It is, though the score itself may take a few days to show the update. The best ways of raising your credit score fast include requesting validation for every negative credit entry and paying off as much revolving debt as possible, as quickly as possible.
You’ll need a computer with internet access to start the process –for raising your credit score fast you will need to file all of your disputes online. Start by pulling up your credit report for each of the three reporting agencies, Equifax, Experian and Transunion. If you have been turned down for credit or if you have not pulled your report in the last year, your report should be free.
Look at the report and locate the area with negative information. This page or section may be called “Collections” or it may be called “Potentially Negative Items”. Use the online dispute system to open an online dispute for each item that is incorrect. The agency will seek to verify each item. If they can’t verify then the items will be removed. This technique will not get rid of all of your negatives, but if you have any that are old, incorrect or simply not yours they will be removed, causing your credit score to go up.
Some negatives will require more intensive efforts, but this simple approach will rid your report of some of the easy ones and help improve your credit score. This process could take a few minutes or a few hours depending on the number of collections on your report.
Once you have completed the online disputes, examine your credit card utilization. Your utilization rate is the percentage of available credit you have used. If you have $1,000 in available credit, and you have used $900 of that credit, then your utilization rate is 90%. Figure out your utilization by adding up the total amount of your debts and comparing it to your credit lines.
High credit card utilization will hurt your score. A percentage rate of 50% or more is damaging — to help your score your utilization rate should be 10-20%. If you can, pay down your debt to lower the utilization. This will not work for everyone, simply because it is expensive, but it is the best way of raising your credit score fast.