- How Long Does It Take To Raise Your Score By 100 Points?
- How To Raise Your Credit Score By 100 Points
- How to raise your credit score 100 points in 3 months, 6 months, 1 year or 2 years
Pay Your Bills On Time Every major credit bureau 1,2,3 has said that the most important factor in assessing your credit score is whether you pay your bills on time
Most of the questions are from readers whose credit scores have taken a hit due to bankruptcy filing or missed payments and delinquent accounts. Their scores are normally in the 500 or low 600 range. While anyone can improve their credit scores by 100 points, how fast the improvement comes is uncertain, but there are circumstances where rapid improvement is possible. We’ll explore this later in this post.
While there are many factors that affect your credit score, the major credit bureaus have suggested that the following factors are the most important in improving your credit score.
According to Experian 1 , late payments, delinquent accounts and accounts that have been sent to collections have a huge impact on credit scores. Making sure you pay all your bills on time is imperative in increasing your credit score.
Setting email reminders with your creditors, or mobile text alerts and even using the autopay feature will help in this regard.
Keep Balances on Revolving Credit Low According to Experian 1 and TransUnion 2 , keeping your balances low on revolving credit is also very important
Revolving credit includes credit cards and home equity lines of credit. TransUnion 2 recommends having a balance of no more than 35% of your available credit (ie credit utilization ratio of less than 35%). Continue lendo “Can You Raise Your Credit Score 100 Points in 6 Months, 1 Year, 2 Years?”