How to Increase Your Credit Score by 30 Points

Buying a house, a car or another big-ticket item requires good credit. The problem is, improving your credit score can take up to a year if you employ traditional methods. If you want to improve your standing in the short term, here are a few quick fixes that will help increase your credit score by as much as 30 points.

Instructions

Assess Your Current Credit Report

1

Look for duplicate entries on your credit report. Removing a duplicate account can increase your score by as much as 14 points.

2

Request the removal of negative credit report items on accounts that have been inactive for more than seven years. Email the respective credit reporting agency (Experian, TransUnion or Equifax) and provide any account information that you have available to support your claim.

3

Red flag accounts that you don't recognize. For these accounts, request proof of the account holder's identity from the collection agencies in question. You can do this by filing a dispute with the credit reporting agency.

4

Check your payment history. Look for payments that were made on time but reported to the credit bureau as late. For this type of dispute, you'll need copies of your bank statements and credit card bills from that time period to verify that you made the payment on time.

5

Look for paid accounts that are still labeled as "outstanding." Again, you will be required to submit notices of final payments and bank records to verify that you paid off the balance in question.

Improve Your Existing Credit

6

Request a credit increase for all of your existing accounts that are in good standing. While this might sound counter intuitive, it actually increases your debt-to-income ratio, which in turn raises your credit score.

7

Pay down credit cards that are near their limits. Consider transferring your maxed-out cards to a low-interest card that carries a higher limit.

8

Stop applying for new credit cards. Every time you open a new account, your credit score is docked.