Q&A: How can I raise my credit score 30 points very quickly?

Posted on Feb 5, 2025 in FHA Information

fha mortgage loan
by SS&SS

Question by Steve M: How can I raise my credit score 30 points very quickly?
I need 20-30 quick points on my credit and I dont have a whole lot of money to pay down balances. I am at 590-600 and i need to be at 620 for an FHA mortgage loan. Any suggestions will help!!!

Best answer:

Answer by Judy
Need more info.
If you ever touch 75% of usage of your limits you are causing extreme harm to your score.
Even bringing them down to 50% of limits can give you a boost.
Optimal use only 25% of your limits.
For 800+ scores – pay in full each month.

Do not open any new credit.
Do not close old accounts.
Only secret is to lower your debt utilization ratio on your cards.
Then wait for the score to reflect the change.
Credit cards update on the credit card’s closing date – usually. (only once a month).
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2 Comments

  1. Christine W January 20, 2013

    To be honest, there is not a real definite way to increase your credit by that many points so fast. Usually if you have an increase that high, its usually done over several months.

    The best option for raising credit points (IMO) is to make payments on everything ON TIME for atleast 3 months in a row. This usually will raise your credit and is usually more effective then trying to pay down one balance by a lot. Make sure during that time you don’t have any balance increases, late payments, or any other negative effects on your credit (Like applying for more credit)

    The credit rating system is so confusing and crazy that there isn’t a list of things to do to increase your rating. You just have to avoid doing the wrong stuff.

  2. Mike January 20, 2013

    Sell anything you do not need for CASH; also borrow every nickel you can get your hands on from friends and family (these loans do not go on your credit record) and pay down or pay off as much debt as you can. Regardless of anything else, expect your rating NOT to go up until at least 30 days AFTER you pay down or pay off the loans that are on your credit record. Most lenders report to the credit rating services monthly.

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