How to Improve Your Credit Score in 24 Hours


Your Credit score plays a major role in determining which rate you get from the credit institutions and if you will be able to get the credit facility at all. It normally takes a lot of hard work and years to repair a damaged credit score. There are no miraculous ways in which you will be able to raise your credit score by hundred of points in a single day. There are however some tips you can use to increase your credit score in 24 hours.

If you were planning to buy a house or a car, increasing your credit score by just a few points within 24 hours can bring a big difference to the rate charged on the loan or even determine if you will qualify for the loan at all.

Below are some tips on how to improve your credit score in 24 hours.

1. Correct credit report inaccuracies.

From a recent report produced by the federal trade commission, over 40 million American have at least one mistake in their credit reports. These mistakes have an impact on your credit score. You should make sure that you get the credit reports annually and analyze if there are any anomalies in the report. This can be able to be corrected making your credit score increase in a matter of hours after the correction is done.

2. Ask for credit limit increase

One of the variables that affect your credit score is the amount of credit you have used. If for example you have a credit card limit of 2000 dollars, and you have utilized 1000 dollars, your credit card utilization will be 50% .If your limit is increased to say 3000 dollars, your credit utilization will reduce to 33%. This will improve your credit score as lender consider a higher credit utilization to be a negative indicator of your credit worthiness. The credit limits can easily be increased within a matter of hours by the banking institutions.

3. Talk to your creditor to delete a late payment.

Late payments can bring down your credit score a little bit. If you were late for paying your creditors, talk to them to have this record deleted from your records. The creditors can easily do this by calling the credit bureaus and the record will easily be deleted.

4. Get current your past due accounts.

Having past due accounts impact negatively on your credit score. Bringing any account that is past due by making them current through making payment will result in an immediate rise in your credit score.

In conclusion, making a big rise in your credit score takes time. It is, however, important to understand some of the simple ways of achieving credit score rise within the shortest time even if it’s just with a few points. For a person who wants to take charge of his finances in the future, it is important to take your credit score very seriously. The impact of not working on your credit score can easily make you spend more when it comes to the rate you get charged and to the extreme cases you might not get any facility at all.

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