How Can I Raise My Credit Score in 30 Days: 7 Proven Strategies

Per the Consumer Financial Protection Bureau, borrowers can obtain free access to their credit report once per year. And, checking your credit report for errors is a great way to raise your credit score, not to mention be a responsible borrower. To obtain your free credit report, visit annualcreditreport.com. You can also sign up for a credit monitoring service through any of the three credit bureaus; Experian, Equifax, and TransUnion.

Once you access your credit report, be on the lookout for errors. Common credit report errors include things like:

• Inaccurate missed payment dates
• Incorrect dates of late payments
• Inaccurate balances on the account
• Inaccurate dates the account was opened or closed

But there can be other errors too, and these errors can drag your credit score down, unbeknownst to you if you aren’t keeping an eye on that credit report. So look closely for the errors mentioned above, and if you see something that just doesn’t look right, follow the steps to file a dispute. To file a dispute, follow the instructions provided by the applicable credit bureau; Experian, Equifax, or TransUnion. 

You may be wondering if there is any harm in checking your credit report. And the answer is no. Your credit will not be impacted if you check your credit score or report. In fact, checking your credit report once a year (or more if you have the means to do so) is vital to protecting your credit and improving your score.

2. Reduce Your Debt Load

It can be easier than we realize to rack up debt, only to wonder how to meet those monthly payment commitments. And with credit cards in particular, your credit score can take a nose dive if you borrow too much. That’s right. Many borrowers don’t realize that even though you get a credit limit of $10,000, it doesn’t mean you should borrow the full amount. The credit industry refers to this as utilization, and the rule of thumb is never to borrow more than 30% of your credit card limit. So, in our example, if your credit limit is $10,000, keep your balance at $3,000 or below.

To that end, paying down your debt can improve your credit utilization, positively impacting 30% of your credit score. But as you work to reduce your debt load, it might be helpful to understand the difference between good debt and bad debt. 

Quite simply, good debt is what you can repay responsibly based on your agreement with that particular lender. Examples of good debt:

• Mortgage
• Student loans
• Auto loans (provided they are not at a high-interest rate)

Bad debt, on the other hand, is the debt you cannot pay, or that puts you at high risk in your inability to pay. Examples of bad debt include:

• Credit cards (particularly those with a high-interest rate)
• High-interest loans, which could include payday loans or unsecured personal loans

If your debt feels like it is getting out of hand or your utilization is too high, consider one of these strategies to pay it down.

• Apply the snowball method to your credit card balances. This means you start with the credit card with the lowest balance and start paying your minimum monthly due plus whatever else you can scrape up to pay it down. Keep working at that balance until it reaches zero, and then move on to the next credit card. However, don’t forget to pay your monthly minimum due for your other debts. Your payment history represents 35% of your credit score.
• Consider a debt consolidation loan. Debt consolidation allows you to pay off multiple debts with a new loan or balance transfer credit card, usually at a lower interest rate. It can help you streamline your finances, expedite your payoff due to the lower interest rate, reduce your monthly payment, and even improve your credit score.

3. Use Credit Cards to Your Advantage 

Credit cards are just one of those things that every borrower needs to have. They provide a great way to develop healthy spending and payment habits and can help you grow your credit score. Managing your credit cards and using them to your advantage can be highly effective in helping you raise your credit score in 30 days.

Here are some tips to help you use those credit cards to your advantage.

• Make your payments on time, all the time. Payment history represents 35% of your credit score.
• Manage your credit utilization by keeping your balance-to-credit limit ratio under 30%. If your credit utilization is high, you can lower it by asking for a credit limit increase on an existing card or applying for a new one.
• Seek a new credit card with better perks. If you have a high-interest credit card and a good credit score above 670, you might want a new credit card with better terms and perks. To do this, know your credit score to understand what you might qualify for, and search the internet to find the right credit card. But, before you do this, consider how many credit cards you have already and if you can handle taking on the responsibility of a new one. Your credit mix represents 10% of your credit score, and your new credit represents another 10%. 
• Consider a secured credit card if you are just starting to build your credit profile or you have poor credit. But not all secured credit cards are the same, especially if you are trying to raise your credit score in 30 days. Ensure that the secured credit card you get reports your payment history and activity to the credit bureaus. Read the fine print to ensure you are comfortable with the terms and fees. And finally, make sure the required deposit is one you can afford.

4. Get Added as an Authorized User

Being added to someone else’s credit card account is a great way to build and improve your credit score. This is often best suited to someone with poor credit that wants to be eligible for a personal loan for good credit, or someone who wants to build their credit score from scratch. To do this, ask a trusted family member or friend if they can contact their credit card company to add you as an authorized user. Be sure to ask someone you trust to make payments and be honest about their card usage. And take responsibility for your share of the financial burden. 

5. Never Miss a Payment 

Paying your minimum monthly payments on time every month is the biggest factor affecting your credit score. So, pay all your bills on time, and when you can, pay a bit extra to help reduce the interest you will pay over time. Borrowers should know that late payments can cause your credit score to drop by 180 points and remain on your credit report for seven years. 

A great way to stay on top of your payments is to set up autopay with your bank or the applicable credit cards. This set-it-and-forget-it approach makes sure that you never miss a payment. However, pay attention to your utilization and ensure the automatic payment amount is always enough to meet the minimum and keep your balance-to-credit limit ratio under 30%. Also, in the event something happens and you miss a payment, know that you have 30 days to make a late payment before it damages your credit (but this doesn’t mean you won’t be subject to a late payment fee from the creditor)

6. Get credit for all of your bills

Most creditors will report to the credit bureaus, but this is not the case for your utility companies or your landlord. For example, credit bureaus don't automatically collect information about rent payments. One way to raise your credit score in 30 days is to sign up for a service such as Experian Boost that lets you get credit for paying monthly utility, cell phone, and streaming service bills on time. You can even get credit for streaming payments on Netflix, HBO, Hulu, Disney+, and Starz. You can also see if you can use your credit cards to pay your bills. This allows you to maximize any credit card perks and rewards. Just ensure this doesn’t cause your utilization to go up.

7. Get Help

Without proper diligence and perseverance, our finances can get out of control. And when we’re struggling to make ends meet, improving our credit scores can be really hard. If you need assistance getting your credit and finances in order, credit counseling can help you learn more about consumer credit, money management, debt management, and budgeting. You can find a reputable credit counselor at National Foundation for Credit Counseling or The Federal Trade Commission.

Credit counseling can assist if you need to improve your approach to your monthly finances.  Though credit counseling can hurt your score initially, the goal is to learn better behaviors to improve your ability to manage credit in the future.

What Impacts Your Credit Score

Your credit score is calculated using information from your credit report using five factors. The three main credit reporting bureaus maintain credit reports: Equifax, Experian, and TransUnion. 

• Payment history, 35%
• Amounts owed (utilization), 30% 
• Credit history, 15% 
• Credit mix,10% 
• New credit,10% 

Paying your bills on time every month is the single most important thing you can to not only build credit fast but work towards a good credit score of 670 or higher. Understanding how your credit score is calculated can help you make the necessary changes to improve your score. 

How Often Is Your Credit Score Updated?

Your credit score updates about every 30 to 45 days, based on when your creditors report information to the bureaus. However, your score can update more frequently if you have multiple credit cards, loans, etc. For this reason, if you have the ability to check your credit score more frequently via your bank or one of your creditors, you might see your score change as often as week to week.

You should remember, however, that your credit score is always going to go up and down a bit. A dip of a few points here or there, or an increase of the same, is not something to be alarmed about. Instead, watch for sizeable dings to your credit, especially when they happen month after month. A large decrease in your credit score is an indicator that you should review your credit report for errors.

Is There a "Quick Fix" to Repairing Credit?

Unfortunately, there is no magical or quick fix to repairing your credit if you are online searching how to raise my credit score overnight. It takes time and focus to ensure your credit score continues to improve and works closer and closer to that excellent credit score that so many borrowers desire. And according to FICO, most quick-fix efforts to fix your credit score are most likely to backfire, so beware of any advice that claims to improve your credit score fast.

The best way to improve or repair your credit is to manage it responsibly. You can manage your credit responsibly by doing the following things:

• Check your credit report for errors
• Pay your bills on time
• Reduce the amount of debt you owe
• Be mindful when applying for new credit accounts
• Pay attention to your credit mix (too many loans or even too many personal loans for fair credit can be an indication that you are a bad credit risk).

How Many Credit Points Do You Gain a Month?

The number of credit points you can gain in a month can vary on many factors. You must remember that your creditors are reporting on your credit activity every month, and the reporting dates are not the same amongst all creditors. Plus, if you improve your utilization with one creditor, it might be reported as much as two months after the fact.

The name of the game when it comes to your credit score is consistency. Paying your bills on time every month and paying attention to your utilization combined impact 65% of your credit score. And every month you maintain those good habits, the better it can be for your score.

How to Track Your Progress 

A good rule of thumb is to check your credit report once per year and your credit score as often as you like. As mentioned, you are entitled to a free annual credit report from the three main credit bureaus.  And one of the easiest ways to get a copy of your credit report is through Annual Credit Report.com. If you find an error on your credit report, promptly file a dispute with the applicable credit bureau(s).

Most banks and credit card issuers now offer their customers free access to their credit scores at least once per month. If your financial institution does not provide this option, you can sign-up for a credit score monitoring service through one of the bureaus; Experian, Equifax, and TransUnion. 

What Happens After 30 Days? 

So let’s get back to the original question: How can I raise my credit score in 30 days? The tips for improving your credit score are the same whether you want to fix credit in 30 days, obtain a 720 credit score in 30 days, or simply increase your credit score. Your score refreshes at least once a month, so if you are trying to improve that credit score, be sure to check it periodically to ensure it is going in the right direction.

Your credit score is updated when new information is added to your credit report. And lenders report your information to the three main credit bureaus. Your lenders also decide how often they report on your credit history. This all said, the best recommendations to improve your credit score are as follows:

• Keep up the on-time payments 
• Watch your credit utilization 
• Responsibly manage your debt 
• Keep your oldest accounts open
• Apply for new credit sparingly 

Final Word

We might sound a bit like a broken record, but monitoring your credit and building good credit behaviors that can help make you eligible for a personal loan for excellent credit, takes diligence and perseverance. But, if you truly want to know the answer to how can I raise my credit score in 30 days, then be sure you are paying your bills on time every month, keeping your credit card utilization under 30%, and being mindful when applying for credit and taking on more debt. 

You can positively change your credit score within 30 days, but remember that the activity is not a one-and-done strategy. Building credit takes time and commitment to healthy financial habits. 

• Check Your Credit
• Credit Reports and Scores Key Terms 
• Disputing Errors on Your Credit Reports 
• National Foundation for Credit Counseling
• Looking for a Credit Counselor? Here’s How to Find a Good One
• How to Improve Your Credit Score Fast