Your credit score is one of the most important numbers in your life. It can determine whether you can get a loan, how much you’ll have to pay for that loan, and even whether you can get a job. A low credit score can haunt you for years, so it’s important to do everything you can to improve it. Fortunately, there are many things you can do to boost your credit score quickly. We will discuss six of the best methods for improving your credit score fast with tips on how to maintain your improved score over time. Let’s get started!
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1. Professional Services
If you have the money to spare, there are professional services that can help you improve your credit score. Typically, these companies will review your credit report and work with the credit bureaus on your behalf to dispute any errors they find. They may also help you negotiate with creditors to remove negative marks from your report. With services that fix your credit, you can achieve the best results because you’ll have help from professionals. This can be an effective way to improve your credit score quickly, but it can be expensive. For example, services that help you fix your credit can cost between $79 and $199 per month.
2. DIY Credit Repair
If you don’t want to spend the money on a professional service, you can do many of the same things yourself. Start by getting a copy of your credit report from each of the three major credit bureaus (Experian, TransUnion, and Equifax). Review your reports carefully to look for any errors. If you find any, dispute them with the credit bureau. You can also contact your creditors directly to try and remove negative marks from your report. While this method takes more time and effort than using a professional service, it is much cheaper.
3. Capitalize on Sign-up Bonuses
If you have good credit, you can take advantage of sign-up bonuses by opening new credit cards. Many credit card companies offer bonuses of $100 or more when you open a new account and meet certain spending requirements within the first few months. This is an easy way to earn some quick cash while also improving your credit score. Just make sure you’re careful not to spend more than you can afford to pay off, or you could end up damaging your credit score. Additionally, be sure to keep an eye out for annual fees, which can offset any rewards you earn.
4. Use a Secured Credit Card
If you have bad credit, you can use a secured credit card to improve your score. A secured credit card is a credit card that is backed by a deposit you make with the issuer. For example, if you open a secured credit card with a $500 deposit, you will have a credit limit of $500. This is an effective way to improve your credit score because it shows that you’re using credit responsibly. Just make sure you choose a secured credit card with low fees and no annual fee. Also, be sure to make your payments on time and in full to avoid damaging your credit score. Additionally, you can even choose credit clean-up services. According to Timesunion.com, these companies are great to fix credit report errors, which can secure your credit card further.
5. Become an Authorized User
Another way to improve your credit score is to become an authorized user of someone else’s credit card. This means that the account holder adds you to their credit card as an authorized user. You will then have access to the account and can use the credit card. This can be a great way to improve your credit score because it shows that you’re using credit responsibly. Just make sure you choose an account holder who always pays their bills on time and in full.
6. Get a Cosigner
If you have bad credit, you may not be able to get a loan on your own. But if you can find someone with good credit who is willing to cosign for you, it can help you get the loan you need and improve your credit score. A cosigner is someone who agrees to take responsibility for the loan if you default on it. This means that if you miss a payment or default on the loan, the cosigner’s credit will be affected. So, it’s important to make sure you can afford the payments before you get a cosigner. Additionally, be sure to make all of your payments on time and in full to protect your cosigner’s credit.
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Improving your credit score doesn’t have to be a daunting task. From professional help to DIY credit repair, there are many options available. And, by taking advantage of sign-up bonuses, using a secured credit card, or becoming an authorized user, you can improve your credit score quickly and easily. Just be sure to use responsible financial habits to maintain your improved credit score.
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