5 Tips to Improve Your Credit Score Fast
Looking to improve your credit score quickly? These 5 proven strategies can help boost your score in as little as 30 days, potentially qualifying you for better auto financing rates.
Quick Win Strategy
The fastest improvements come from fixing errors and reducing credit utilization. Focus on these two areas first for the biggest impact.
Tip #1: Check for Errors and Dispute Them
Up to 25% of Canadian credit reports contain errors that can lower your score. This is the fastest way to see improvements:
Get Your Free Credit Reports
Request from Equifax and TransUnion Canada (free annually)
Look for Common Errors
Wrong payment dates, incorrect balances, accounts that aren't yours
File Disputes Immediately
Credit bureaus have 30 days to investigate and respond
Potential Impact: Removing errors can increase your score by 50-100 points instantly.
Tip #2: Pay Down Credit Card Balances
Credit utilization accounts for 30% of your score. Target these utilization levels for maximum impact:
Fast Strategies:
- Make multiple payments per month to keep balances low
- Pay before your statement date to show lower balances
- Request credit limit increases (but don't use the extra credit)
- Temporarily move balances between cards to optimize ratios
Tip #3: Become an Authorized User
If you have family or friends with good credit, this strategy can boost your score within 30 days:
How It Works:
- Someone with good credit adds you to their account
- Their positive payment history appears on your report
- You benefit from their good credit behavior
- You don't need to use the card or even have access to it
Choose carefully: Make sure the primary cardholder has excellent payment history and low utilization.
Tip #4: Pay Bills on Time (Set Up Automation)
Payment history is 35% of your score. Even one missed payment can drop your score by 60-100 points.
Automate Everything
Set up automatic minimum payments for all accounts to ensure you never miss a payment.
Pay Extra When Possible
Pay more than minimums to reduce balances faster and improve utilization ratios.
Tip #5: Keep Old Accounts Open
Credit history length accounts for 15% of your score. Closing old accounts can hurt your score in two ways:
- Reduces your total available credit (increases utilization)
- Shortens your average account age
- Removes positive payment history from consideration
Exception: Close accounts only if they have annual fees and you're not using them. The benefit of avoiding fees may outweigh the credit score impact.
Timeline for Results
Week 1-2: Error Disputes
Credit bureaus investigate and remove verified errors
Week 2-4: Utilization Improvements
Lower balances reflected in credit reports
Week 4-8: Authorized User Benefits
New positive account history appears on your report
Ready to Take Action?
Start Improving Today
Don't wait for perfect credit to get the reliable transportation you need. Even with credit challenges, you may qualify for auto financing that can help improve your credit score.