In many ways, improving a bad credit score is like losing weight: It takes time and energy and there isn’t a miracle solution to bettering your credit score. You should beware of proposed “quick-fix” remedies because they have high chances of backfiring on your and making your situation worse.

Rebuilding credit score requires time and effort, all while being properly managed over time. If you’ve failed to keep an eye on your credit over the years than credit score improvement is the way to go. If your credit score is low and you aren’t getting the needed approval for credit cards or favorable interest rates, you may want to think about applying for a quick personal loan online for bad credit.

How to Improve your Bad Credit Score Fast

The most important factor in building, or maintaining, a good credit score is paying your bills on time. It doesn’t matter whether your owed debt is small or large, respecting your payment schedule is a must. Furthermore, you can:

  • Avoid applying for unneeded credit;
  • Refrain from overextending your debt, and
  • Effect late payments.

If you aren’t already aware, you should know that credit applications can be seen on your credit report – such is an indication for new debt. In most cases, it’s best to use existing credit in order to demonstrate long-term capacities in managing credit.

Tips and Tricks on Improving a Bad Credit Score

There are in fact many tips and tricks that you can tap into in order to improve your credit score, along with a positive payment track record and low credit use:

  • Avoid fraud. Early warning signs of fraud are most likely to be seen in your credit report and accounts. For this reason, it is important to regularly verify the latter to prevent possible fraud.
  • Avoid credit mistakes. Equally, by monitoring your credit accounts and reporting on a regular basis, you will be able to make note of and take care of, and possible credit mistakes.
  • Only apply for credit/open new credit accounts when needed. As earlier mentioned, hard inquiries can be seen on your credit report and can directly affect your score. Furthermore, having too much credit can be enticing, causing you to overspend and accumulate much more debt.
  • Leave unused credit accounts open. Of course, this means knowing how to refrain from using such accounts, but such credit accounts add to your overall score. Moreover, having unused credit accounts demonstrates low credit usage.

Primary Credit Score Elements

Despite the fact that many elements come into play when discussing credit scores, certain factors are of greater importance. Of the list, payment history and credit utilization ratios are the most critical elements in many credit scoring models. Together, they can make up 70% of your credit score – their impact is huge.

What is a Credit Utilization Ratio?

It may be considered one of the most important factors, but what is the credit utilization ratio exactly? Simply put, this rate is calculated by dividing your total credit debt by your total available credit. Most models take into consideration your overall credit utilization rate, which calculates your ratio across all accounts, as well as rates for individual accounts.

Generally speaking, a lender appreciates low rates of 30% or less. More so, the individuals with the best credit scores are often those who have low credit usage which also demonstrates available credit on cards and responsible credit management.
You can decrease your credit utilization ratio in a positive way by:

  • Repay debt and keep credit card accounts low
  • Become an authorized user on someone else’s account who uses credit appropriately.

Although opening a new credit account may increase your overall credit limit, the credit application itself sets as a hard inquiry on your credit report. As earlier mentioned, to many of the latter and this can negatively affect your credit report – remaining on your report for two years. Although the mark fades over time, you should only open a new credit account when absolutely necessary.

What is Payment History?

In general, your past payment history is a good indication for lenders on how you will manage future payments. When a lender reviews your credit report, payment history is one of the first things they take a look at.
One of the best means of positively influencing this credit element is by respecting all your repayment schedules in terms of your credit accounts. Both late payments and paying less than the required minimum will directly affect you in a negative way.

Of course, when it comes to paying bills on time, you want to ensure that all your payments are respected and on schedule. This includes your rent, utilities and even your phone and cable bills! You can always reach out to services at hand including payment applications and calendar reminders to make sure you always stay on track!

Is Rebuilding Credit Score a Lengthy Process?

Ultimately, there is no “quick fix” and the saying: Time heals all is rather appropriate here. When it comes to improving your credit score, time is of the essence, and sometimes, all you can do is pay your bills on time and wait patiently.

Although there may not be any shortcuts to genuinely improving your credit score, you can take a look at your individual report and start clearing up the problems one by one. Remember that:

  • Hard inquiries are shown on your credit report for 2 years;
  • Bankruptcy remains on your report for approximately 10 years and public record items for 7;
  • Delinquencies equally remain on your credit report for 7 years.

When it comes to improving your credit score, acting wisely is important. Take your time, for time, is actually to your advantage. Work on one issue at a time and make sure that you discuss and possible credit mistakes on your report!



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-ViviaFi is not a lender in all states. ViviaFi uses various credit reports, data sources, and application information as part of their underwriting. Not all applications are approved. Approval and loan terms vary based on applicant qualifications and by state. Decision may take longer if additional verification or documents are required.

†Applications approved before 1:30 p.m. CT Monday-Friday are generally funded same business day, subject to your bank's processing times. Applications approved other times are generally funded the next business day. Some applications may require additional verification. In such cases, if approved, funds will be disbursed by the following business day after the additional verifications are complete.