How To Improve Your Credit Score Quickly

Your credit score and report is determined by your payment/billing history, the payable amounts of debt you currently have, how many years of credit youve had, how many accounts youve opened recently, and how many different
types of credit you have (like a mortgage, auto loan, or credit card). Companies check your credit score when you try to get an apartment, start utility service somewhere new, apply for a loan or mortgage, or even apply for a
credit card. If youre credit score is low, youll have less opportunities. Some apartments will refuse to rent, youll only get approved for really expensive credit cards, and you may not be able to buy a much-needed car.
720 is considered a great score. It can take years to improve your credit, so it’s best to get started now. Although it may be impossible to get your credit score to that 720 level within a year, we can at least get you headed
in the right direction.

The following are ways to improve and protect your credit score.

Pay off your current loans/debts.

Do you have a car loan, mortgage, or even credit card payment that was already due? Pay it off. Open debts can lower your score. Paying them off can increase your score and save you money in the long run The faster you pay it
off, the less interest you owe. Consider getting a temporary part-time job to cover some of these extra payments.
Use a credit card responsibly.

If you already have a credit card, start using it responsibly. If you dont have a credit card, then consider getting one. Only use the card on items that you need, like gas or groceries, and make sure you already have the
money in your bank account before spending it. Credit cards arent free money. Its money that you have to pay back in a month. Pay off your bill in-full every month so that you dont have to pay interest. Consistent on-time
payments will look great.

Open a joint account or become an authorized user.

If you can be responsible with making consistent on-time payments, and you have a friend or family member with a great credit score that trusts you, they could add you as an authorized user on their credit card, or even offer
to open a joint account. Authorized users on cards and joint accounts are a great way to boost your score. Dont feel offended if another person doesnt want to add you on, because both parties will be responsible for the
balance on the card or account. This arrangement could easily hurt both of your credit scores if not handled responsibly.

Avoid identity theft.

If someone takes out a credit card in your name, and racks up thousands of dollars of debt, that means that your credit report now shows that you havent paid off all of that money! That can really hurt your score. Avoid
identity theft by taking steps to protect your personal information. Search the internet for advice on how to protect yourself and your family from fraud and identity theft.

Can I use a payday loan to improve my credit score?

Often, the answer is no. Most lenders dont even ask to see your credit. For more information or a quick overview to payday lending you can visit
The only time a payday loan would affect your credit score is if you failed to pay back your loan and your balance had to be turned over to a third-partys collection agency. The good news is that it makes no difference in most cases
whether your credit score is good or bad. These lenders exist to provide financial relief to those who need it. When you need a few hundred dollars to tide you over until your next paycheck, they can help you get the money you need,
without credit or collateral requirements. Short-terms loans can be used however to cover your other obligations when money is tight and these payments would otherwise be late. This can help protect your accounts from becoming negative
on your credit report.