How Can I Raise My Credit in 30 Days?


Are you on a time crunch and need to boost your credit? Maybe your apartment lease is ending soon, but you don’t have the credit score to buy a home. Or you’d like to get out of your junky car and buy a more reliable vehicle. Whatever the reason is, increasing your credit score gets you the leverage you need for better interest rates and more options.    

Increase Score in 30 Days

Looking for ways to raise your credit rating?  Read below to find out how to improve your score within 30 days. 

What if I Don’t Have a Credit Score?

Many young adults just starting out on their own fall into the category of having no credit. If you are 18 and you have no credit cards or loans, you likely have no trackable credit history.  

Before you go out and apply for any credit card, you should educate yourself first.  Understanding the importance of how credit works, which credit cards are best for young adults, and responsible usage is vital. 

Not sure where to get started? Don’t worry! Our suggestions below can help you build credit and improve your overall score. 

Steps to Improve Credit Score

No need to pay someone hundreds of dollars to get your credit score back on track.  Buckle down on your budget, use a little bit of critical thinking and follow these steps.

On-Time Payments

35% of your overall credit score is determined by history and on-time payments.  Therefore, missed payments or late payments can bring down your score drastically.     

Due to the coronavirus pandemic, the Secretary of the U.S. Department of Education has continued to postpone all federal student loan payments, waive interest and stop collections until December 31, 2020. Normally, Federal student lenders give up to 90 days before they become delinquent. Most other private lenders, give you around 30 days before your loan is put into collections and reported to the credit bureaus.  

To avoid negative points on your score, set monthly reminders on your phone to ensure you never forget about any due dates. If you find yourself experiencing financial hardship, call your lenders or creditors and work out a payment arrangement. 

Pay Down Higher Debts First

Credit utilization is the percentage of credit you have used vs credit you have available.  Contribution to 30% of your credit rating, the higher your available credit is the better your overall score is. 

Pay down your debts starting with the cards or loans with the highest balance first. Once you start to lower those credit utilization ratios, switch to the next highest debt on the list and so on. After all of your debts are at 30% or less, start paying down the debts with the highest interest rate.  

Apply these two tips and you should start to see your credit score increase drastically.

If hard times are forcing you to use your credit cards, try looking for ways to make some quick cash instead. But, in the event you must use a credit card for emergencies, make sure you’re switching to a different card once you get close to the 30% utilization rate.  

Keep in mind, the more credit you use across the board, the lower your score goes.  

Raising Credit Limit

Reach out to your creditors and apply for a credit limit increase. An overall higher credit limit will keep your credit utilization lower. 

If you get denied for a credit limit increase, ask a relative or friend if they would allow you to be an authorized user on one of their accounts. Let them know they don’t need to give you any access to their accounts, but be sure to choose wisely!  

You only want to be an authorized user on someone’s account who has great credit, high credit limits, and has a responsible payment history. Any negative activity on their end will impact your credit. 

Pay Twice A Month

Your loan servicers or creditors report every payment you make–ask them to split them into two equal payments two weeks apart(before the due date).  

These “micropayments” throughout the month will hike up your rating.  Over time, you’ll pay less towards interest, and more goes directly to the principal balance. 

No Credit Score Loans

Secured cards are great for those with no credit, but often you’re required to put down a deposit equal to the card limit. MoneyLion offers an alternative to the typical high-interest rate credit cards with a Credit Builder Loan.  Whether you have little to no credit history, we never require a credit check.  

Simply link your primary checking account and we’ll do the rest.  Approvals are based on a few key factors indicated once we scan the financial history of the account you’ve linked.  If you’re approved for a Credit Builder loan, a portion is given to you the day you’re approved and the remaining funds are held for you in your Credit Reserve account.  

Once you’ve paid off the loan in full, the funds from your reserve account are released to you. 

Our 12-month terms make payments affordable, and due dates are made in conjunction with your pay schedule. While you pay down your loan, we’ll report your payments to all 3 major credit bureaus every month (timely payments are crucial!). 

Download the MoneyLion app and find out how more than half our members raised their score by up to 27 points within 60 days!

Benefits of a High Credit Score

A higher credit score will always open up bigger and better doors. Lenders are more willing to take a risk on someone who has a high credit score with a solid financial history. You’ll get better interest rates and terms when it comes to buying or leasing cars and homes.  

Increase Your Credit Score Within 30 Days

Improving your credit can lead to boundless opportunities and gives you major buying power.  A Credit Builder Loan is ideal for someone who needs to revamp their credit score or needs to establish credit.  

We offer competitive rates, no credit checks and you could qualify for up to $1000 today.  Don’t put your future on hold – get started today

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Join Credit Builder Plus to get a loan up to $1,000, credit monitoring, exclusive rewards, access to 0% APR cash advances, and more. Over half of members raise their credit over 27 points within 60 days!

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