How To Improve Credit Scores Fast! | Refresh Financial

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How To Improve Credit Scores Fast!

how to improve credit scores fast

Is your credit score holding you back from major life moves, like buying a home or a car?  Wondering how to improve credit scores fast?

While working towards a better credit score is a game of patience and self-discipline, there are things Canadians can do to improve credit scores quickly and hit goals a lot sooner.

How To Improve Credit Scores Fast!

Practice good habits

You cannot improve your credit score unless you change your poor habits. New habits should include consistently checking your balances - both of your credit bills and your bank accounts. Budgeting is a habit you should have already adopted. You need to be aware of your credit score and what’s on your credit report if you want to improve your credit score. You can find more great habits to adopt here.

Pay off as much as you can, on time

Eat instant noodles for a month if you have to, but scrape every red cent you have up and put it all on your debts. Bring them down as quickly as you can, ensuring all your payments are made on time. Don’t ever risk making a late payment as that can bring your score right back down again! Bringing your debts down is the fastest way to improve your credit score because it lowers your credit usage percentage. You only want to be using 30% or less of the total credit you have. If you can pay it all off, even better!

Use a Co-signer

Using a co-signer on a credit product such as a loan, and then making all your payments on time, every time is going to do wonders  to improve your credit score. Even better, you can improve your credit score faster by paying more than the minimum payment each month. In fact, paying down your loan as fast as you can (while making all your other payments as well) is a surefire way to a higher score.

Become an authorized user

An authorized user is someone who has another person’s card with their name on it. For instance, if your husband or wife has a credit card in their name, they can add you as an authorized user, and you’ll get your own card with access to the same account. As long as the account you have attached your name to stays in good standing, you’re going to be able to improve your credit score, albeit slightly.

Get a secured card

A secured card is like a regular credit card except you have secured it with some of your own funds. If you can get yourself one of these, and then keep it in great standing, you will almost certainly improve your credit score.

Get a secure line of credit

Sort of the same idea as a secured card, except you access it via your bank account and generally, it comes with a lower interest rate. You can also earn interest on your security funds while they are securing your line of credit. Paying off your line of credit on time every month, more than the minimum payment, it going to seriously improve your credit score, so long as everything else you owe is kept up to date.

Credit building programs to improve your credit score fast

Unlike a secured card or a secured line of credit, a credit building program doesn’t require you to put money up in the beginning to secure the program. Instead, the payout serves as the security funds and are only released to you once you’ve paid your program down. This has a double punch to it when it comes to knocking out poor credit, because not only do your regular, on-time payments to your credit building program get reported to the credit bureau like a regular loan, but you can also use the payout, once you get it, to pay down any other debts you have quickly. You will quickly improve your credit score with a credit building program.

One thing to note when it comes to improving your credit score - it requires self-discipline and sacrifice. Good credit requires these two things, and they are the best way to get a sky-high credit score, with few exceptions. If you are willing to sacrifice and change your habits, you’re going to get there.

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    I would like to thank Refresh Financial for helping me get out of a bad spot. I never thought it was possible and almost gave up on things and then I saw Refresh Financial and and gave it a try. At first I was unsure of things but to see my credit score now makes me a believer in this program.

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    Refresh helped me regain credit following a nasty divorce, which left me with a very poor rating. They were able to remarkably help me go from a 480 to a 600 score, in just over a year. Thank you Refresh!”

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    I have watched my credit score jump since being with Refresh and I have already recommended it to friends and family. Thank you for helping me build my credit faster for my future and my children’s future :)”

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    At first I was skeptical because I wasn’t getting funds upfront and had to make payments when I really needed the money. I’ve been in the program a year now and have noticed my credit has improved drastically!”

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    I have been a client of Refresh Financial for approximately 3 years. Since being a client they have improved my credit immensely. Definitely recommend this company to anybody that needs help re-establishing credit.”

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    Refresh Financial is an amazing program to help people get back on their feet. I was rock bottom with nowhere to turn. My credit was beyond poor. I would recommend them to anyone. If I can do it surely anyone else can.”

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    “Great company to deal with for rebuilding credit, very simple process to get started. Good service if you ever have questions.”

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    This business truly cares about its clients. The customer service is always quick to return calls or emails. Their online portal functions very well so as a customer you are always updated as you progress with your loan.

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    “Refresh Financial has made us more aware of how to take care of our financial situation and be more responsible, and making payments on time is rewarding in the end for credit. Thank You sincerely.”

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    This company has been nothing but fantastic. They have gone above and beyond to help me. This program has given me the relief and peace of mind I need. I would certainly go back to them and give them names of people who could use this.”

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    The financial services products are excellent for new immigrants, low-income earners and small business owners. Loans, savings and credit building all in one solution is a perfect fit to help with financial goals and stability.”

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    “After successfully going through a credit rebuilding loan, I was able to use my built-up equity to purchase a newer vehicle and I have since been approved through a financial institution for a loan.”

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    “I made some poor credit choices when I turned 18 and have always had this lingering thought of how am I ever going to better my score. Since being with Refresh I have realized that I took the right step towards bettering my future.”

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    “Thank you Refresh, and my relationship manager for giving me the tools for a better score with a secured card and two credit builder loans. I feel absolutely confident I’m on a better path to financial success. I am happy to be a long term client.”

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    I’m so excited I’ve joined refresh! I’ve already seen a huge increase on my credit after the first month! The staff are a delight and make this so easy to understand. I strongly recommend Refresh Financial even if you have good credit this will give you a boost and you’re saving money with the reverse loan!”

    – Wayne B