How do I increase my credit within 6 months?

Money Management
1

Hi Community,

I am looking to increase my credit score so I can find a good APR to buy a car. What would be the best way to raise my credit within 6 months?

2

I’m not so sure on how to do it in a sprint, for me it’s more of a marathon. ALWAYS pay your bills on time. Use less than 30% of your available credit cards. Do NOT close out old accounts when you are done paying. Limit the number of new credit applications.

If you have debt, pay it way down- that’s my best suggestion to improve credit quickly. Good luck with the car!

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3

Keep your balances below 30% of the credit limit on each card. Pay your bill on the statement date and not the due date. Learn how to purchase your own debt, increase your credit scores for good, and earn the interest you were paying others yourself.

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4

Great thank you for the advice :heart:

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5

Great advice. Thank you!

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6

Some great suggestions here already to get your credit card balances as low as possible and be sure to keep your oldest accounts open even after you’ve paid them off. I try to spend on my older cards every 6 months to keep them active with a grocery shopping trip and then pay off the card once the balance hits my statement. My recommendation for you given that you’re 6 months out is to check your credit reports on annualcreditreport.com. Now is a great time to review them if you haven’t recently done so and make sure there are no errors on them that you can get corrected.

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7

Thank you for the advice. This group has been extremely helpful for me. Thanks again!

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8

Hey Marjorie,

Here’s how I’ve sprinted my credit score in a few months:

  1. Always pay my bills on time.

  2. Pay my credit card twice a month (this will make your expense ratio go to 0 essentially, skyrocketing your score). This trick allowed me to go from low 700s to 800s in a couple months.

  3. Call your credit card company to increase your credit limit. This’ll also help you reduce your expense ratio (since spending the same amount of money on a higher credit line = lower % being spent).

I go more into the above 3 credit score boosting tricks here.

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https://goodmoneygoodlife.com