How fast can I improve my credit score?

You can see improvements in 30-60 days by paying down credit card balances. However, building excellent credit typically takes 6-12 months of consistent good habits.

Does checking my credit score hurt it?

No. Checking your own score is a "soft inquiry" and doesn't affect your credit. Only "hard inquiries" from lenders when you apply for credit can impact your score.

Should I close old credit cards?

Generally, no. Closing old cards reduces your available credit (hurting utilization) and shortens your credit history. Keep them open, especially your oldest cards.

How to Improve Your Credit Score: Complete Guide | MoneyAtlas

Understanding Your Credit Score

Your credit score is a three-digit number (300-850) that represents your creditworthiness. Here's how FICO scores break down:

Exceptional: 800-850
Very Good: 740-799
Good: 670-739
Fair: 580-669
Poor: 300-579

The 5 Factors That Affect Your Score

1. Payment History (35%)

The most important factor. Late payments, collections, and bankruptcies hurt your score significantly.

Action: Set up autopay for at least minimum payments on all accounts.

2. Credit Utilization (30%)

The ratio of your credit card balances to limits. Lower is better.

Action: Keep utilization under 30%, ideally under 10%. Pay down balances or request limit increases.

3. Length of Credit History (15%)

Longer credit history is better. This includes average age of accounts and age of oldest account.

Action: Keep old accounts open, even if you don't use them.

4. Credit Mix (10%)

Having different types of credit (cards, loans, mortgage) shows you can manage various accounts.

Action: Don't open accounts just for mix, but don't avoid installment loans if needed.

5. New Credit (10%)

Too many new accounts or inquiries can lower your score temporarily.

Action: Only apply for credit when needed. Rate-shop within a 14-45 day window.

Quick Wins to Boost Your Score

1. Pay Down Credit Card Balances

Reducing utilization can improve your score within 30 days.

2. Become an Authorized User

Ask a family member with good credit to add you to their card. Their positive history can boost your score.

3. Request a Credit Limit Increase

Higher limits = lower utilization (if you don't increase spending).

4. Check for Errors

Review your credit reports at AnnualCreditReport.com. Dispute any errors you find.

5. Use Experian Boost

Link your bank account to get credit for utility and streaming payments.

Long-Term Strategies

Never miss a payment - Set up autopay and calendar reminders
Keep old accounts open - Don't close your oldest card
Diversify over time - Responsibly add different credit types
Be patient - Good credit takes time to build

How Long Does Improvement Take?

Utilization changes: 1-2 billing cycles
New positive accounts: 3-6 months to help
Negative marks fading: 1-7 years depending on type
Building from scratch: 6-12 months for a good score

How to Improve Your Credit Score: Proven Strategies