What Is the Fastest Way to Bring Up Your Credit Score?

There's no quick fix for bad credit.

Consumers have the resources to raise their credit scores, either on their own or with the help of a third party. The Federal Trade Commission warns consumers to avoid credit repair scams that promise to fix your credit quickly.

Expert Insight

"The fact is there's no quick fix for creditworthiness," says the FTC. Bringing up your credit score legitimately requires time, a conscious effort and repaying your debts. The best way to raise a score is by eliminating negative reporting to the credit bureaus, but erasing accurate negative information is illegal.

Features

The fastest scenario for raising your score involves removing negative errors or outdated information from the report. Under the federal Fair Credit Reporting Act (FCRA), you can legally do so by disputing the information in writing with the information provider. They must investigate, usually within 30 days, and make revisions accordingly, says the FTC.

Potential

You can remove false information or add good credit accounts in three business days if you have acceptable supporting documentation on hand. For a fee, "rapid rescoring" services will contact the creditor and the bureaus to verify information and get the changes made quickly. They expedite the dispute process of 30 days, and can't remove accurate negative items.

References

• Federal Trade Commission: Facts for Consumers
• Federal Trade Commission: Credit Repair: How to Help Yourself
• BCS Alliance: Credit Scores: What is Rapid Rescoring?