One of our readers, Keshon, sent us this question:

Keshon Wilson Says:
Hello I am trying to raise my credit score 100 points in 6 months, please help me, what should I do?

Thanks for your question Keshon!

I don’t honestly know if it’s possible to raise your credit score 100 points in six months. Credit scores really do depend on time – how long your accounts have been open, how many months you have paid your bills on time, etc. However, I can give you some excellent tips that will help you raise your score pretty quickly.

1. Pay your bills on time, for the next six months. This includes everything from your credit cards to your car payment and utility bills.
2. Check your credit reports and scores – all three of them. You can do that by visiting True Credit. You are going to have to know where you are starting before you can make improvements.
3. Pay off your cards in full each month, and keep the amount you charge to no more than 15%. Most credit card companies report the amount you charged that month, even if you pay the balance in full. So to maximize your score, use your cards just a little, and pay them off each month.
4. If your credit score is low, I really, really recommend the Orchard Bank Secured Credit Card. I am speaking from personal experience here. You can open it with as little as $200 and they report positive payment to all three credit bureaus. This will help raise your credit score.
5. If you have access to $1,000, then I recommend going to your bank and getting a Certificate of Deposit. Some banks may let you one with less, but most require at least $1,000. Once you get the C.D., turn around and get a bank loan for $1,000 using the C.D. as collateral. Put the money in a savings account and do not touch it, just use it to make the payment on the loan each month. This will help your credit score out too.
6. When you check your credit reports, check very carefully for bad information. Specifically look for anything you can challenge that will raise your score. Late payments, charge offs, etc.
   When you challenge an item on your credit report the company you owed the money to has the right to produce paperwork saying that their claim is legitimate. If they do not, then the credit bureau will remove the item from your report.
   Be careful of challenging too many things though, or your score will be put on hold temporarily until all the challenges are resolved, and you will not be able to open a new line of credit anywhere.
7. Check out our article on opting out of new credit offers here. I have seen a ton of rumors stating that opting out can raise your score as much as ten points. Soft inquiries (i.e. inquiries that you did not initiate) are not supposed to count against your score, but I have seen a lot of testimonials saying that people experienced a boost to their score a month or so after opting out. Couldn’t hurt to try it in this case.

Thanks again for your question Keshon, and good luck!

~Jenna

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