3 Quickest Way to Improve Your Credit Score

One of the biggest parts of your credit report is your credit utilization score, which measures how much credit you are actually using. The higher your credit card balances, the lower your credit utilization score, which will lower your credit score. If you are carrying debt on your credit cards, paying them off — or even just paying a good portion of your debt — can have an immediate impact on your credit score.

This is an alternative way to raise your credit utilization score. If you open a new credit card, your overall credit limit is raised, which lowers your credit utilization score, hence raising your credit score. So opening a new credit account can be a quick way to raise your credit score, although try not to open more than one or two accounts, as too many credit pulls of your credit report from lenders will also lower you credit score.

Millions of people in the US have errors on their credit report. Some of those errors can lower your credit score, depending on what they are. You can contact the credit bureaus and ask them to fix the errors, which would hopefully raise your credit score. Each credit bureau — Equifax, Experian and TransUnion — have information about how to contact them on their sites. You can also hire a credit repair company to help you fix these mistakes.