How Can I Quickly Increase My Credit Score By 40 Points? (2024)

You can quickly increase your credit score by 40 points by reducing your utilization, disputing errors on your credit report, adding on-time rent or utility bills to your reports, and keeping up with your current payments. It is possible to improve your credit score in one to two months. However, maximizing your score may take longer.

You can use WalletHub’sfree credit score simulatorto find out which actions are most likely to raise your score by 40 points quickly. You can also get personalized credit improvement advice. Below, we cover some general tips that help most consumers.

Tips for Increasing Your Credit Score by 40 Points

• Make on-time payments: Your payment history is the most important factor affecting your score. Making on-time payments will prevent your score from falling and help improve it over time.
• Reduce your utilization: Lowering your utilization can increase your credit score significantly. You can reduce your utilization by paying down your credit card balances or increasing your credit limit. However, requesting a higher limit may temporarily lower your score because it requires a hard inquiry. Ultimately, though, having more available credit will help your score. Note, creditors usually report to the bureaus every 30 days, so it may take at least one billing cycle for your score to reflect the improvement.
• Add accounts to your reports: Rent and utility accounts aren’t usually included in your credit reports, but services like Experian Boost and LevelCredit can send your payment history to the credit bureaus. The record of on-time payments may improve your score.
• Dispute incorrect information: You canfile a disputeif there is incorrect information on your credit report. Disputing information is not guaranteed to result in a score increase but can be helpful in some cases. The bureaus typically respond to claims within 30 to 45 days.

For more tips, check out ourguide to increasing your credit score.