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The amount of time it takes to raise your credit score can vary, although many of these tips can affect your score within 30-60 days.
- Obtain a copy of your credit report and look for errors: The FTC estimates that 1 out of 5 consumers have a mistake on their report. If you find one on yours, make a note of it and be sure to dispute it.
- Reduce your credit utilization: You can go about this a couple of was; reduce your spending and/or increase your credit limits. Ideally only 1/3 of your available credit should be used. Lowering your credit utilization rate will have a positive impact on your score.
- Don’t apply for multiple forms of credit within a short amount of time: Each time you apply for a new form of credit (credit card, car loan, etc.) your credit is pulled. Too many credit inquiries in a short amount of time can mean a decrease in your score.
- Settle late payments: Although it can be overwhelming, settling late payments is very important. Credit bureaus count a late payment beginning from the first day of your last payment so the sooner you settle late payments the better. Once you have dealt with late payments, automate your bill paying so that paying bills is less stressful.