How to Raise Your Credit Score Fast

Who doesn’t want to increase their credit score? It’s an important number that will decide how easily you can get a loan and qualify for low interest, reward, and cash back credit card deals.

1. Find Out When Your Issuer Reports Payment History

First thing first, call your credit card issuer and ask him when your balance gets reported to the credit bureaus. More often, that day is the closing date and or you can say the last day of the billing cycle on your account. I am sure you’ve heard of the term “credit utilization ratio.” This is the ratio of the amount of credit card that you’ve used compared to the amount of credit that is available, and it is best to keep that ratio to less than 30%. A smart way to boost your score, even quicker,  is by keeping your credit utilization ratio to less than 10%.

Let’s see how to calculate the utilization ratio:

Assume that you have two credit cards. 

The limit of Card 1 is $3,000 and a $1,500 balance.

Limit of Card 2 is $10,000 limit and a $1,000 balance on it.

Let’s calculate the utilization ratio per card:

Card 1 = 50% (1,500/3,000 = .0.5, or 50%), which is too high.

Card B = 10% (500/5,000 = .10, or 10%), which is great.

Doing this exercise will help with step number two

2. Pay Down Cards With High Balance First

Let’s talk about the utilization ratio.

In the above example, we saw there was a balance in more than one card. 

Note that Card 1 has a 50% ratio, which is high, and Card 2 has a low 10% ratio, which is quite good. To calculate the FICO score, they will check each card’s ratio so you can boost your score by paying off the card with the higher balance. 

3. Pay Twice a Month

Try to pay your balance two weeks before the closing and then make another payment just before the closing date.  I am assuming that you have the money to pay off your expenses (even the big ones) by the end of the month. Don’t pay big bills with your credit card if you plan to carry a balance as the compound interest will create a pile of debt on you pretty quickly. 

4. Ask For A Credit Limit Increase

Request a limit increase from your credit card companies, and this will lower down your credit utilization ratio percentage. A high credit limit can also grant you the positive secondary effects, such as emergency payments, and this is an efficient way to make large purchases.

So, ultimately if you have less utilization ratio, it shows that you’re doing a good job managing your money by not overspending, and keeping your spending in check can help you reach higher credit scores.

5. Do’s and don’ts 

So, if you have several unused credit cards in your wallet, do not close them as it will benefit you by showing a long credit history and a more considerable amount of available credit.


In conclusion, to boost your credit score fast,  you need to follow these three basic rules:

The first thing you need to do is to keep your credit card balance as low as you can.

Secondly, pay your bills on time, and when you’re paying it, make sure you pay in full.

Thirdly keep a regular check on your credit report so that you can know what is negatively and positively affecting your credit score.

Leave a Reply

Your email address will not be published. Required fields are marked *