If you are the a situation where you need to raise a credit score fast the first thing you will need to do is figure out why in the world your credit is bad. To do this buy a copy of your credit report, you can also use a copy of your free annual report. Many times credit scores will be low for a few different reasons and i have listed the common reasons below.
Too Many Inquiries within a short time period – If you`ve been going from car dealership to car dealership getting pre-approved for a car loan; this will lower your credit score. Same applies if you are shopping from bank to bank for a Mortgage
To Much Debt– Anytime your accounts are close to the account limit it will rive your scores down. If you can paying down a large chunk of the balance will help you. Preferably get it under 50% of the limit. If that is not an option you can always try to get a credit line increase that will accomplish the same thing.
Bad Payment History– This is pretty self explanatory, you for one reason or another did not pay your bills on time. These could be old collection accounts or just delinquent credit card or mortgage payments. Whatever the reason late payments will reduce your credit scores fast.
If you have a bad credit history the best method to raise your credit scores fast is to do some credit repair. What credit repair involves is disputing the negative accounts that are on your report. You do this by sending dispute letters to the bureaus who are reporting the information.
When they receive your letters they will ask the account holder or issuer to provide proof that the negative information is correct. If the company does not or will not provide that proof the bureaus will remove the account from your report and your credit scores will increase.