An excellent credit score leads to approval on credit cards, loans, and even apartment rental applications. A higher score will also earn lower interest rates. Getting your credit score from bad to excellent can take a lot of work and time. Don’t be discouraged if you’re looking to improve fast, though! There are tricks you can use to make a large difference within months. A low credit score can be raised a hundred points or more with enough effort.


How Your Credit Score is Determined

Before diving into the below tips, understand a few basics. Credit scores generally range from 500 to 800. An excellent credit score would be something over 700, though some lenders save their top rates for scores over 750. Your credit score is determined based on information in your credit report. To raise your credit score, you need to improve the information on your credit report. Your payment history is often the most crucial consideration. Other important factors include the amount of debt you have versus the amount of credit available to you, the length of your credit history, and the variety of accounts you have.


A Few Tips

Ask Your Credit Card Company For A Higher Limit: One of the big factors determining your score is the amount of credit available to you versus the amount you are using. If your limit on your credit card is raised, but your balance remains the same, your score will improve. All you have to do is call the card company and ask. If you have a history of on time payments and a healthy income, they’ll be more likely to approve the request.

Pay Your Credit Card Bill Twice A Month: This may sound silly, but by making “micropayments”, you’ll keep your balance lower overall. You never know when your score will be calculated during the month, so this may help you out.

Talk To A Credit Counselor: Financial advisors aren’t just for wealthy people. You can get personalized advice from someone who will look over your income and credit report and tell you exactly how you can improve your credit score.

Pay Down Your Debts: Do you have the money to pay down your debts? Traditional wisdom suggests that you pay off your highest interest rate debt first. This is the cheapest option. However, if you pay down a wider range of accounts, this may have a more significant effect on your score. This is a controversial option, so be sure to discuss it with a financial counselor.