Every month that an account is marked as past due affects your score. Notify one of the credit agencies immediately and provide the correct information or evidence that you have been scammed. After you receive a secured card, use it only for small purchases and only let them report less than 10% of their limit to credit agencies. And although it helps to repay even some of your debt, repaying the entire balance has the biggest and fastest impact on your credit score.
What is the fastest way to increase my credit score by 100 points?
According to TransUnion, one of the three major credit reporting agencies, your credit report is updated every time your lenders provide new information. That said, as long as you’re a great customer and your score is reasonably healthy, this is a good strategy to try out. An easy way to lower your credit utilization rate is to request an increase in your credit card limits. After nine months, the average account holder had raised his credit rating by more than 40 points.
References:
- Can My Credit Score Go Up 100 Points in a Month?
- Can You Raise Your Credit Score By 100 Points in 30 Days?
Barry Ritholtz is a renowned finance expert, author and blogger. With over 30 years of experience in the financial industry he has gained a reputation as a thought leader and influencer in the investment community.