How to Raise My Credit Score 40 Points Fast (2024)

Table of Contents
How is my credit score calculated? Credit Score Scale Six ways to raise your credit score by 40 points 1. Check for errors on your credit report 2. Remove a late payment 3. Reduce your credit card debt 4. Become an authorized user on someone else's account 5. Pay twice a month 6. Build credit with a credit card Find help for outstanding debt What is SoloSuit? FAQs about how to improve credit How do I raise my credit score by 50 points? How can I boost my credit score fast? How quickly can you raise your credit score? How to Answer a Summons for debt collection in all 50 states Guides on how to resolve debt with every debt collector Resolve your debt with your creditor Settle your medical debt Guides on arbitration Stop calls from debt collectors Federal debt collection laws can protect you Get debt relief in your state Debt collection laws in all 50 states Statute of limitations on debt state guides Check the status of your court case How to stop wage garnishment in your state Other wage garnishment resources How to settle a debt in your state How to settle with every debt collector Other debt settlement resources Personal loan and debt relief reviews How to repair and improve your credit score How to resolve student loan debt Civil law legal definitions Get answers to these FAQs on debt collection How-to debt guides Learn more with these additional debt resources FAQs

Sarah Edwards | February 26, 2024

How to Raise My Credit Score 40 Points Fast (1)

Legal Expert
Sarah Edwards, BS

Sarah Harris is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

How to Raise My Credit Score 40 Points Fast (2)

Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

How to Raise My Credit Score 40 Points Fast (3)

Summary: Here are six ways to raise your credit score 40 points fast: check for errors on your report, remove late payments, reduce credit card debt, become an authorized user, make payments twice a month, and build credit with your credit card.

With a high credit score, you'll be eligible for the most favorable rates and terms when applying for a mortgage or other bank loan. But what if your credit isn't that great?

Your credit score matters when applying for a loan, when applying for an apartment, and in some cases, when applying for a job. If you're concerned about less-than-stellar credit, we're here to help you out with some quick ways to raise your credit score by 40 points.

How is my credit score calculated?

Your credit score basically serves as your financial report card. It's built on your past credit history and lets lenders know how much they can trust you to repay a loan in the future.

The most commonly used credit score is known as the FICO score and ranges from 300 to 800. Here's how that breaks down:

Credit Score Scale
Scale Score
Excellent 740 or more
Good 700 to 739
Fair 630 to 699
Poor 629 or less

According to the Consumer Financial Protection Bureau, FICO has used more than 60 different scoring models since 2011. Not only is there no common formula, but the formula itself is a well-guarded secret. You'd have an easier time getting the recipe for Coca-Cola than FICO's credit score equation.

Still, your score is influenced by a small constellation of factors, including:

  • Payment history (35%)
  • Amounts owed (30%)
  • Length of credit history (15%)
  • New credit (10%)
  • Credit mix (10%)

To improve your credit score, you'll need to address as many of these categories as possible.

Six ways to raise your credit score by 40 points

Raising your credit score by 40 points can make a big difference. Imagine that you buy a house for $305,000. You put down 20%, which means your mortgage loan totals $244,000 (the 2022 national average). With a credit score of 685, you'll qualify for an APR of 4.546%, spending $203,000 in interest over the course of a 30-year loan.

But if you bump your credit score up to 725, you'll qualify for an APR of 4.369% and spend $194,000 in interest, a difference of $9,000. That saves you $300 a year over a 30-year term, enough to supplement your summer vacation savings.

Here are six ways to quickly raise your credit score by 40 points:

1. Check for errors on your credit report

One of the fastest ways to improve your credit score is to remove errors on your credit report. These errors can negatively impact your credit score, which means that correcting them can give your score a much-needed boost.

You are entitled to a free credit report once a year from the three major credit bureaus:

See Also
How To Improve Your Credit Score For A Mortgage | BankrateThe Impact of Home Ownership on Your Credit Rating | First BankMortgages - Advantages and DisadvantagesWhy did my credit score drop after paying off debt?

Some third-party providers offer credit monitoring, which alerts you to suspicious activity and lets you respond immediately to fraudulent charges.

Monitoring addresses the problem directly, but it can still take some time before the error completely disappears from your credit history. Checking your credit report regularly can help you identify these issues rapidly and protect your record from errors.

According to a report from the Federal Trade Commission (FTC), nearly 1 out of 100 (0.93%) of consumers had an error that cost them 25 points or more on their credit report. But if you dispute a large error, you could improve your score by as much as 100 points, depending on how low your score was prior to the dispute.

2. Remove a late payment

Late payments can reduce your credit score by as much as 125 points. In some cases, you may have paid a bill by the due date, but your creditor did not record the payment until after the deadline passed.

These situations are frustrating but fixable. Contact your creditor, and explain the situation. As long as you're not a frequent offender, they may extend grace and change the status of your past payments. You can also ask about setting up automatic payments to show you're committed to keeping up with monthly payments.

Assuming you can eliminate the late payment, you can avoid this deduction and raise your score by as much as 125 points.

3. Reduce your credit card debt

Remember, 30% of your credit score is based on the amount of debt that you carry. Cut your credit card debt, and you can expect to see your credit score rise in 30 to 60 days.

While there's no absolute rule about this, it's generally better to keep your credit card usage within 30% of your credit limit. This rule means that if your credit limit is $1,000, you'll want to keep your outstanding balance below $300.

How this affects your score depends on how many total credit card accounts you have and your credit utilization rate on each one. But if you can reduce your total debt, a 40-point increase is not unreasonable.

4. Become an authorized user on someone else's account

A quick way to boost your credit is to become an authorized user on someone else's account. If you have a family member or close friend with strong credit, you can become an authorized user on their credit card account. This can affect your score dramatically, especially if your score is low and the other user's is high, raising your score by as much as 100 points or more.

The catch, of course, is that if the primary user forgets to make payments or accumulates a large balance, it could negatively impact your credit score. And if your credit score is already low, this could impact you more than the primary user.

5. Pay twice a month

Paying your bills on time will increase your credit score, though this can take time. But one way to save on interest charges is to pay twice a month. Instead of waiting until the deadline to make one big payment, make smaller payments every two weeks.

This approach will help you hit the deadlines, and it will also keep your principal balance below 30% of your credit utilization. Both of these factors can favorably impact your score, in some cases as much as 125 points.

6. Build credit with a credit card

If you follow the other advice on this list, you can actually use a credit card to build credit. How? Use a credit card to pay for your regular expenses, such as rent/mortgage or car payments. Setting up autopay ensures that you make these payments on time.

As long as you stay on top of your credit card balance, this data will add to your positive payment history, which can raise your credit score and also help mitigate late payments and other financial blemishes. There's no limit to how much this can boost your credit, though this method is the slowest and is unlikely to give you a 40-point boost in only a month or two.

Find help for outstanding debt

Sometimes debt can get away from you. If you're being sued for outstanding debt, there's help. SoloSuit can help you respond to a lawsuit and get the justice you deserve. But act quickly. You only have 14 to 35 days to respond. Sign up today to get started with your Answer, and we'll help you by filing it on your behalf.

To learn more about how to respond to a debt collection lawsuit, check out this video:

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

FAQs about how to improve credit

How do I raise my credit score by 50 points?

Let’s recap. Here are six ways to raise your credit score by 50 points:

  • Check for errors on your report.
  • Remove late payments.
  • Reduce credit card debt.
  • Become an authorized user.
  • Make payments twice a month.
  • Build credit with your credit card.

How can I boost my credit score fast?

The fastest way to boost your credit is to check for errors on your report and dispute them. If any false or fraudulent marks are currently showing on your report, disputing them is a fast way to boost your credit.

If you’re struggling with poor credit, and there are no errors on your report, one way to boost your score quickly is to make biweekly payments on your accounts. This will show that you are managing your money carefully and make it seem like your credit utilization is less.

How quickly can you raise your credit score?

You can raise your credit score in a matter of a few weeks with consistent payments, less credit utilization, and removing any incorrect information on your report.

However, building a strong credit score is a long-term process. It requires consistently practicing good credit habits over time. While you might see some improvements in a few months, especially by reducing credit utilization and correcting errors, it could take a while to increase your score significantly. The same can be said for building business credit. Remember, each credit history is unique, so the exact time it takes to raise your score varies from person to person.

See Also
Raise Your Credit Score : 5 Ways To Raise Your Credit Score By 200 Points

We have answers.
Join our community of over 40,000 people.

You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now or are just looking for support, we're here for you.

Ask a Question

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

How to Raise My Credit Score 40 Points Fast (4)

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to Raise My Credit Score 40 Points Fast (5)

How to Answer a Summons for debt collection in all 50 states

Here's a list of guides on how to respond to a debt collection lawsuit in each state:

The Ultimate 50 State Guide

Guides on how to resolve debt with every debt collector

Are you being sued by a debt collector? We’re making guides on how to resolve debt with each one.

Resolve your debt with your creditor

Some creditors, banks, and lenders have an internal collections department. If they come after you for a debt, Solosuit can still help you respond and resolve the debt. Here’s a list of guides on how to resolve debt with different creditors.

Settle your medical debt

Having a health challenge is stressful, but dealing medical debt on top of it is overwhelming. Here are some resources on how to manage medical debt.

Guides on arbitration

If the thought of going to court stresses you out, you’re not alone. Many Americans who are sued for credit card debt utilize a Motion to Compel Arbitration to push their case out of court and into arbitration.

Below are some resources on how to use an arbitration clause to your advantage and win a debt lawsuit.

Stop calls from debt collectors

Do you keep getting calls from an unknown number, only to realize that it’s a debt collector on the other line? If you’ve been called by any of the following numbers, chances are you have collectors coming after you, and we’ll tell you how to stop them.

Federal debt collection laws can protect you

Knowing your rights makes it easier to stand up for your rights. Below, we’ve compiled all our articles on federal debt collection laws that protect you from unfair practices.

Debt collection laws in all 50 states

Debt collection laws vary by state, so we have compiled a guide to each state’s debt collection laws to make it easier for you to stand up for your rights—no matter where you live.

Statute of limitations on debt state guides

Like all debt collection laws, the statute of limitations on debt varies by state. So, we wrote a guide on each state’s statutes. Check it out below.

Statute of Limitations on Debt Collection by State (Best Guide)

Check the status of your court case

Don’t have time to go to your local courthouse to check the status of your case? We’ve created a guide on how to check the status of your case in every state, complete with online search tools and court directories.

How to stop wage garnishment in your state

Forgot to respond to your debt lawsuit? The judge may have ordered a default judgment against you, and with a default judgment, debt collectors can garnish your wages. Here are our guides on how to stop wage garnishment in all 50 states.

Other wage garnishment resources

How to settle a debt in your state

Debt settlement is one of the most effective ways to resolve a debt and save money. We’ve created a guide on how to settle your debt in all 50 states. Find out how to settle in your state with a simple click and explore other debt settlement resources below.

How to settle with every debt collector

Not sure how to negotiate a debt settlement with a debt collector? We are creating guides to help you know how to start the settlement conversation and increase your chances of coming to an agreement with every debt collector.

Other debt settlement resources

Personal loan and debt relief reviews

We give a factual review of the following debt consolidation, debt settlement, and loan organizations and companies to help you make an informed decision before you take on a debt.

How to repair and improve your credit score

Debt has a big impact on your credit. Below is a list of guides on how to repair and improve your credit, even while managing major debt.

How to resolve student loan debt

Struggling with student debt? SoloSuit’s got you covered. Below are resources on handling student loan debt.

Civil law legal definitions

You can represent yourself in court. Save yourself the time and cost of finding an attorney, and use the following resources to understand legal definitions better and how they may apply to your case.

Get answers to these FAQs on debt collection

How-to debt guides

Learn more with these additional debt resources


It only takes 15 minutes.
And 50% of our customers' cases have been dismissed in the past.

"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" – Heather

Get Started

Not sued yet?
Use our Debt Validation Letter.

Our Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.

Let's Do It

How to Raise My Credit Score 40 Points Fast (2024)

FAQs

How to Raise My Credit Score 40 Points Fast? ›

Check your credit reports for incorrect information that may be dragging you down. The length of time it will take to improve your credit scores depends on your unique financial situation, but you may see a change as soon as 30 to 45 days after you have taken steps to positively impact your credit reports.

View More ›
How can I get my credit score up 40 points fast? ›

Here are six ways to quickly raise your credit score by 40 points:
  1. Check for errors on your credit report. ...
  2. Remove a late payment. ...
  3. Reduce your credit card debt. ...
  4. Become an authorized user on someone else's account. ...
  5. Pay twice a month. ...
  6. Build credit with a credit card.
Feb 26, 2024

See More ›
How long does it take to get a credit score up to 40 points? ›

Check your credit reports for incorrect information that may be dragging you down. The length of time it will take to improve your credit scores depends on your unique financial situation, but you may see a change as soon as 30 to 45 days after you have taken steps to positively impact your credit reports.

Discover More Details ›
Is it possible to raise credit score 50 points in 30 days? ›

In fact, some consumers may even see their credit scores rise as much as 100 points in 30 days. Steps you can take to raise your credit score quickly include: Lower your credit utilization rate. Ask for late payment forgiveness.

Find Out More ›
How can I raise my credit score in 24 hours? ›

Others are doable in a single day and will help your credit improve quickly:
  1. Review your credit reports.
  2. Get a handle on bill payments.
  3. Use 30% or less of your available credit.
  4. Limit requests for new credit.
  5. Pad out a thin credit file.
  6. Keep your old accounts open and deal with delinquencies.

Learn More Now ›
Is 650 a good credit score? ›

As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.

Keep Reading ›
How can I jump my credit score 50 points? ›

  1. Pay credit card balances strategically.
  2. Ask for higher credit limits.
  3. Become an authorized user.
  4. Pay bills on time.
  5. Dispute credit report errors.
  6. Deal with collections accounts.
  7. Use a secured credit card.
  8. Get credit for rent and utility payments.
Mar 26, 2024

Tell Me More ›
How many points can your credit score go up at one time? ›

Once the incorrect information is changed, a 100-point jump in a month might happen. Large errors are uncommon, and only about one in 20 consumers have one in their file that could impact the interest on a loan or credit line. Still, it's important to monitor your score.

View More ›
Does paying off a car raise credit score? ›

Does paying off a car loan help credit? This can vary from person to person. In the short term, paying off a debt and closing credit accounts can result in a drop in credit scores. But over time, it can improve a person's DTI ratio, which lenders may look at when considering your credit application.

Tell Me More ›
How fast does credit score go up after paying off a credit card? ›

How long after paying off debt will my credit scores change? The three nationwide CRAs generally receive new information from your creditors and lenders every 30 to 45 days. If you've recently paid off a debt, it may take more than a month to see any changes in your credit scores.

View More ›

What increases credit score the most? ›

Paying your bills on time is the most important thing you can do to help raise your score. FICO and VantageScore, which are two of the main credit card scoring models, both view payment history as the most influential factor when determining a person's credit score.

Read More ›
How to repair credit fast? ›

How to improve your credit score
  1. Check your credit report for errors. ...
  2. Prioritize paying on time. ...
  3. Work to pay down your debts. ...
  4. Become an authorized user. ...
  5. Request a credit line increase. ...
  6. Handle debt in collections. ...
  7. Consider opening a secured card. ...
  8. Get credit for other payments.
Apr 30, 2024

Keep Reading ›
Can I pay someone to fix my credit? ›

Yes, it is possible to pay someone to help fix your credit. These individuals or companies are known as credit repair companies and they specialize in helping individuals improve their credit score.

Get More Info ›
Why did my credit score go from 524 to 0? ›

Credit scores can drop due to a variety of reasons, including late or missed payments, changes to your credit utilization rate, a change in your credit mix, closing older accounts (which may shorten your length of credit history overall), or applying for new credit accounts.

Know More ›
What credit score is needed to buy a house? ›

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).

Get More Info ›
Does Experian credit boost actually work? ›

Yes, if you receive a score increase when you add payments with Experian Boost, the increase will happen instantly. Any lender that uses the FICO® Score 8 with Experian data will see that change reflected in score results. Users of Experian Boost whose scores improve see an average FICO® Score increase of 13 points.

Discover More ›
Can I raise my credit score 40 points in a month? ›

You can quickly increase your credit score by 40 points by reducing your utilization, disputing errors on your credit report, adding on-time rent or utility bills to your reports, and keeping up with your current payments. It is possible to improve your credit score in one to two months.

See More ›
Can your credit score go up 50 points in a month? ›

There is no set maximum amount that your credit score can increase by in one month. It all depends on your unique situation and the specific actions you're taking to improve your credit. Realistically, you probably won't see your credit score increase by more than 10 points in a month.

Read More ›
How can I raise my credit score 100 points overnight? ›

How to Raise Your Credit Score 100 Points Overnight
  1. Become an Authorized User. This strategy can be especially effective if that individual has a credit account in good standing. ...
  2. Request Your Free Annual Credit Report and Dispute Errors. ...
  3. Pay All Bills on Time. ...
  4. Lower Your Credit Utilization Ratio.

Show Me More ›
How can I add points to my credit score fast? ›

4 tips to boost your credit score fast
  1. Pay down your revolving credit balances. If you have the funds to pay more than your minimum payment each month, you should do so. ...
  2. Increase your credit limit. ...
  3. Check your credit report for errors. ...
  4. Ask to have negative entries that are paid off removed from your credit report.

Find Out More ›
Top Articles
Real evidence
Cavum Septum Pellucidum in the General Pediatric Population and Its Relation to Surrounding Brain Structure Volumes, Cognitive Function, and Emotional or Behavioral Problems
3.2: Quantum Numbers for Atomic Orbitals
Orbital-Modell - Chemiezauber.de
animam studios | Austin Visuals
What Is The 'Animan Studios' Meme? The 'Axel In Harlem' Video And Others Explained
The Best CD Rates In New York July 2024
Citibank Review 2024 | Bankrate
Charles Bengry Commerce Ca
[PDF] UNIVERSITÀ COMMERCIALE LUIGI BOCCONI - Free Download PDF
PDF zusammenfügen - schnell, online, kostenlos
The Energy Bus Summary
Latest Posts
McNally - Borderlands 2 Guide
One Punch Man: Saitama’s Strongest Abilities, Ranked
Article information

Author: Francesca Jacobs Ret

Last Updated:

Views: 6435

Rating: 4.8 / 5 (68 voted)

Reviews: 91% of readers found this page helpful

Author information

Name: Francesca Jacobs Ret

Birthday: 1996-12-09

Address: Apt. 141 1406 Mitch Summit, New Teganshire, UT 82655-0699

Phone: +2296092334654

Job: Technology Architect

Hobby: Snowboarding, Scouting, Foreign language learning, Dowsing, Baton twirling, Sculpting, Cabaret

Introduction: My name is Francesca Jacobs Ret, I am a innocent, super, beautiful, charming, lucky, gentle, clever person who loves writing and wants to share my knowledge and understanding with you.