How to raise your credit score 40 points fast

Are you looking to give your credit score a swift 40-point boost? It might sound ambitious, but with the right strategies and a dash of determination, it’s entirely achievable. Let’s dive into some practical steps to help you achieve that credit score goal in no time.

1. Check Your Credit Reports for Errors

One of the most common reasons for unexplained drops in your credit score is inaccuracies on your credit report. Mistakes happen, and they can range from incorrect account information to inaccurate late payment records. Dovly is a free AI credit engine that can help you work with credit bureaus to get errors removed. 

2. Pay Your Bills on Time, Every Time

One of the most influential factors in your credit score is your payment history. Consistently paying your bills on time is crucial. Set up reminders or automatic payments to ensure you never miss a due date. This simple habit can yield impressive results.

3. Reduce Credit Card Balances

High credit card balances relative to your credit limits can negatively impact your credit score. Aim to bring down your credit card balances to below 30% of your credit limit on each card. This can have a substantial positive effect on your credit utilization ratio and, consequently, your score.

4. Don’t Close Old Accounts

The length of your credit history matters. Closing old credit accounts can shorten your credit history, potentially lowering your score. Keep those older accounts open, even if you don’t use them regularly, to maintain a longer credit history.

5. Become an Authorized User

If you have a close friend or family member with a well-maintained credit card, ask if they’d be willing to add you as an authorized user. This can give your credit score a boost, especially if the account has a long history of on-time payments.

6. Diversify Your Credit Mix

Having a mix of different types of credit accounts, such as credit cards, installment loans, and retail accounts, can positively impact your credit score. If you have only one type of credit, consider diversifying your credit portfolio over time.

7. Be Cautious with New Credit Inquiries

Applying for new credit results in hard inquiries on your credit report, which can temporarily lower your score. Avoid applying for multiple new credit accounts in a short period. Focus on targeted applications when necessary.

8. Monitor Your Progress

Lastly, keep a close eye on your credit score as you implement these strategies. Regularly tracking your score will help you stay motivated and ensure you’re on the right path. Dovly’s AI credit engine can get you a head-turning credit score with credit (re)building, monitoring, alerts, scores, tips, and tricks – all in one place. Try it risk-free with our free membership tier.

Remember, improving your credit score is a marathon, not a sprint. While these strategies can lead to a rapid boost, it may take a few months to see significant changes. Stay patient, stay focused, and before you know it, you’ll be celebrating a 40-point leap in your credit score. Here’s to your financial success! 🌟