How to Increase a Credit Score in 30 Days

Managing credit card debt, especially in today's economic tempest, is extremely difficult. Low credit scores can amount to failed attempts to purchase cars, buy houses or even rent aparments. However, there are practical steps for increasing your credit score in just thirty days. Even better, it may not even force you to eliminate one penny of your debt.

Instructions

Analyze Your Current Credit

1

Acknowledge where you are with your credit score. Fortunately, this process is free. Access the Internet and head to FreeCreditReport.com (see Resources below).

2

Fill in the appropriate information and print out a copy of your report. Your FICO score will be listed. A FICO score is merely a credit rating based on an amalgamation of activity in your credit history. Late payments, large balances and number of credit card accounts can all affect your credit score. But, at this point, simply make a note of the score. Anything above 700 is good; below 700 and there is some room for improvement.

3

Print out the report and keep it handy so you can access it when needed.

Jack Up That Score

4

Find a new credit card with a low interest rate. One reason a credit score may be low is because your balance is too close to your credit limit, making it appear as if you are stretching yourself too thin. While it may seem counterproductive, opening another credit card may be your best option in this case. At LowerMyBills.com, you can find a variety of credit cards that offer 0 percent APR on transferred balances for up to a year (see Resources below). Transferring part of your balance to another card will open up the gap between your balances and your limits and may even lower your monthly payments.

5

Set up an automatic payment plan. Automatic payments each month insure that your bill is paid on time every single month. Pay on time all the time and that will immediately begin to fix your credit rating.

6

Pay off any balances you can. If you can afford to pay off the balance of one of your cards, do it. However, do not close the account. Having lines of credit available to you, whether you use them or not, along with a long credit history, reflects positively on your credit rating.

7

Stop spending! An immediate hold on spending can keep you from raising your balances and thus affecting your credit score negatively. If you can't pay off your debts, a halt to spending can at least keep them from rising.