According to Forbes, some ways to raise a credit score quickly include raising credit limits, keeping accounts open and paying bills on time. Increasing credit limits and keeping accounts open lower a consumer's balance-to-limit ratio, an important ratio when calculating credit scores, according to Experian. Paying bills on time is important because timely payments directly determine a third of the credit score.
Changing a credit score can be a time consuming process, according to FICO, the organization that creates the standard U.S. credit score. However, consumers can get started by checking their credit reports. Knowing what is on the report is critical, especially if something needs to be removed or corrected. Consumers should also take steps to reduce the amount of money they owe.
BankRate advises paying off small balances. Paying off as many cards as possible reduces the total number of credit cards a consumer has, and that can help to boost a person's credit score.
Bankrate also advises avoiding unnecessary requests for credit and clustering together requests for mortgages, car loans and student loans. Every time consumer apply for credit, their credit reports see a small negative ding. If a consumer applies for mortgages, car loans and student loans in a short period of time (usually 30 days), the report only receives one negative mark rather than several, as it would if the requests were spread out too far from each other.