Are you struggling with bad credit and need help to raise your credit score? Thankfully, there are simple credit repair tips that everyone can use to build up their credit score after a financial emergency, such as losing their job and failing to make rent and debt payments.

In this guide from Carolina Title Loans, Inc., learn how to raise your credit score quickly, including paying bills on time, diversifying your credit mix, and using your credit wisely. We will also explain how bad credit borrowers can get Carolina title loans for an urgent emergency they cannot afford.

How To Raise Your Credit Score Quickly: Top 11 Credit Repair Tips

Having poor credit can affect your ability to rent an apartment and borrow money for a car or house. It shows that you may not be trustworthy when paying off debt or making rent payments on time. However, poor credit can be out of someone’s hands. You may have lost your job at an inopportune time and couldn’t afford payments that tanked your credit score.

Rather than letting your bad credit affect your future, you can boost credit fast with credit repair tips. These are simple strategies you can use today to improve your credit score in a couple of days, weeks, or months.

The following are the 11 best ways to improve your credit score fast:

1. Pay Your Bills On Time

The best way to improve your credit score is to pay all of your bills on time. Payment history is one of the most important credit score factors, accounting for around 35%. Unfortunately, late payments can stay on your report for 7 years, though their impact will start to fade over time.

Automate the payments or set up account reminders to ensure you stick to the schedule. If you know that you can’t afford to pay the full amount, try to make at least the minimum payment. Also, always stay in contact with your lender if you cannot keep up with the payments – you might be able to convince the creditor not to report your missed payment or lower your monthly payment.

2. Ask For A Higher Credit Limit

This is one of the fastest credit-building strategies. If your credit limit increases while the balance stays the same, your overall credit utilization will drop. The credit utilization ratio is the percentage of credit you are using compared to how much you have. This is another one of the most vital credit core factors, accounting for 30% of your score.

Experts suggest keeping your credit utilization ratio below 30%. If you are using too much credit as it is, you can ask for a higher credit limit to rectify the issue and raise your score. Just make sure that you won’t be tempted to start spending that additional limit.

Tip: If it’s possible, ask your credit card issuer to avoid a hard credit inquiry when determining whether or not you qualify for an increase. Hard inquiries can cause a small dip in your credit score.

3. Use Your Credit Wisely

Another way to improve your credit score through your credit utilization ratio is to limit the amount of credit you use. Spending less credit every month can lower your ratio below 30% and raise your credit score.

You can do this by cutting costs you normally use your credit card for. An example would be groceries. Instead of paying a couple of hundred dollars weekly using your credit card, try using cash or a debit card. You can also reduce grocery costs by buying in bulk or purchasing generic brands.

5. Check Your Reports For Errors

You can get a free copy of your credit report every 12 months. Make sure you use this opportunity to check the report for any errors. Those can include wrong name or address, incorrect date of payment, duplication errors, and fraudulent actions.

These mistakes can lower your credit score unnecessarily, so it’s best to dispute them to correct the issue. You would have to dispute with every bureau that has a mistake, but it’s worth it if you want to raise your credit score.

6. Become An Authorized User

If you have a friend or family member with a credit card account in good standing, you can ask the person to add you as an authorized user. Their good financial decisions, such as making payments on time or having a good credit utilization ratio, can register on your credit report.

While you can improve your credit score by becoming an authorized user, there are also risks. If the person who owns the card fails to make payments on time, that can have a negative effect on your credit score. Only use this method with someone you can trust.

7. Get A Secured Credit Card

A secured credit card is a type of credit card that requires a security deposit. How much you deposit will form your credit line. This is a safe way to establish a positive credit history, as you deposit the cash that forms the credit line.

You can make payments on time and use your credit line wisely to raise your credit score. This is one of the best credit-building strategies for people just starting to build their credit.

8. Diversify Your Credit Mix

Your credit mix is how many different types of credit accounts you have open. While you may assume that taking on new credit accounts wouldn’t help improve your credit score, it can actually be the opposite. Only having one or two credit accounts open can limit how high your credit score can climb.

As the credit mix determines about 10% of your score, you would want to have at least a few different types of credit, including:

• Credit card debt
• Auto loans
• Student loan debt
• Personal loans
• Mortgages

The best credit score tips for those looking to improve their credit mix are to have three or four of the above credit accounts open at all times. Make sure you always make your payments to improve your payment history continually. Don’t take on new credit accounts you don’t feel you can pay off, as this can lower your credit score.

9. Keep Old Credit Accounts Open

It may sound strange, but keeping your old credit accounts open is a great way to improve your credit score. If your credit account is paid off but has a good credit history, clearing it entirely will take away that positive history.

It can actually lower your credit score to completely pay off a credit account with a good payment history. A credit account that has a good payment history over the course of years will only help to raise your credit score. By keeping that credit account open, you can continue to benefit from your positive management of the debt.

10. Pay Off Any Collections Accounts

VantageScores and more recent FICO models do not consider paid-off collections. That means if your debt went into collections, you can get the negative charge removed from your credit report by paying it off.

If you manage to handle such an account, your score will drastically improve as soon as the new status gets reported to the credit bureaus. Prioritize paying off collections accounts to raise your credit score.

11. Limit Your Number Of Credit Applications

This is one of the credit repair tips that is often overlooked. Credit card applications, specific rental applications, and some employment applications can appear on your credit report as a “hard check,” which will immediately knock a few points off your score.

To ensure that your score doesn’t drop even lower, simply limit the number of credit applications (apply for credit only when you urgently need it).

How To Take Out Carolina Title Loans

While credit repair tips for bad credit can help you in the long term, you may suffer a financial emergency before you can fully rebuild. If you don’t have the money to pay for it, you may struggle to find emergency cash for your urgent expenses. This is where Carolina Title Loans, Inc. comes in with our title loans.

Carolina title loans can help borrowers who have fully paid off their cars get up to $15,000 in emergency funds. You can use your car title as collateral and borrow money based on the value of your vehicle. The approval process is simple, and you will only need a few required items.

The following are the eligibility requirements for title loans in South Carolina:

• A state-issued photo ID with your full name and age displayed
• A lien-free car title in your name
• Your vehicle for a quick inspection

You can get approved today for a car title loan; the approval process can take less than 30 minutes. You can provide your essential information on our online form. One of our loan representatives will call you to discuss the title loan approval process. You can bring your requirements to one of our Carolina store locations to get approved for same-day emergency cash.

Borrow Carolina Title Loans Today – Receive Up To $15,000!

Now that you understand how to raise your credit score quickly, you can start to rebuild after a financial emergency. In the meantime, Carolina Title Loans, Inc. can help with urgent expenses. You can get same-day approval for title loans and receive your funds within one business day.

Get fast financial relief today! Fill out our online loan inquiry form and hear from a loan associate over the phone to learn how to get approved for title loans today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.