How to Improve Your Credit Score in 30 Days or Less: 15 Tips

We would all have excellent credit scores in a perfect world and never worry about our credit rating.  However, sometimes our credit score takes a hit when life happens. If you're looking to improve your credit score in 30 days or less, read on!

Image Credit: Student Loan Hero

What Is A Credit Score?

Credit scores determine your creditworthiness. In other words, it's a way for them to gauge how likely you are to repay your debts. A high credit score means you're a low-risk borrower, which is good news for lenders. On the other hand, a low credit score indicates that you're a high-risk borrower, which means you're less likely to get approved for loans and lines of credit.

Image Credit: College Ave Student Loans

Types of Credit Scores

There are two main types of credit scores: FICO scores and VantageScores. FICO scores are the most commonly used by lenders, while VantageScores are becoming more popular.

Image Credit: Forbes

How Often is Your Credit Score Updated?

Your credit score is updated every time you make a payment or apply for new credit. If you have a lot of debt and make late payments, your credit score will decrease. On the other hand, your credit score will go up if you pay your debts on time and keep your balances low.

Image Credit: National Foundation for Credit Counseling

Pay Off Any Credit Card Debt

The first step is to pay off any credit card debt. Credit card debt can significantly impact your credit score, so it's essential to get rid of it quickly.

Dispute Any Credit Report Inaccuracies

If you see any inaccuracies on your credit report, dispute them. These can include errors like late payments made on time or accounts that don't belong to you.

Swipe up to Read More on How to Increase Your Credit Score in 30 Days