Can you improve your credit score in 30 days? Yes, it is very possible to improve your credit score in 30 days, but do not expect to achieve a very high score within such a short period of time. In 30 days, you can improve your credit score by a few points if you follow the right strategies with diligence, determination, financial and self discipline.
Many people find themselves in a situation where they need to apply for a payday installment loan or a new line of credit but are unable to qualify for a good deal because their credit score is a few points lower than what is required. For these situations, you can apply the following tips.
First, review your credit report and check for possible errors. In a survey, 99% of consumers improved their credit score in 30 days just be checking for errors on their credit report. Believe it or not, credit reports usually contain a few entries that are incomplete or may be inaccurate. So, to start improving your credit score, the first thing you have to do is to obtain copies of your credit report from the three major credit agencies – Equifax, Experian, and TransUnion and check for entries that you think are incorrect. Then gather proof to support your claim. The credit bureaus will start their investigation and will confirm your claim by contacting your creditors and previous lenders of payday installment loans.
Secondly, make a higher payments on your existing debts, especially with your previous payday installment loans. This is one of the most effective ways in improving credit scores in 30 days, but before doing so, talk to your creditors and lenders of previous payday installment loans. Inform them that you have the intention to pay off your existing debts and request that they report these payments immediately to the credit bureaus. When it is correctly and timely reported, you will be able to see a significant improvement in your credit score.
In connection with the previous tip, you also need to pay off debts where you owe the most amount of money. This is related to the idea that the higher amount of debt you owe, the poorer your credit score will be. So, find means to have extra funds to pay off and eliminate high debts. The sooner you pay off your debts, the faster it will be for you to improve your credit score.
You will also need to establish a good employment history. A good employment record will determine how quickly you can start and build your credit score again. Having steady employment will help you earn and get the financial resources to pay off outstanding debts from previous payday installment loan lenders and other creditors.
Apply for utility services and don’t make payment defaults. With a good employment record, you can easily apply for an electricity connection, a telephone line, or any other utility service. But, be careful to be current with all your bills because this will be a great opportunity to show that you can handle financial responsibilities well.
There are, however, a few precautions when you try to improve your credit score in 30 days. For example, do not make inquiries for new payday installment loans during this period because it can have a negative impact on your credit score. But generally, a little bit of patience and hard work are what you will need.