How To Build Credit Fast In 3 Easy Ways

Photo credit: Christina @ wocintechchat.com / Unsplash

It’s hard to overstate how important building your credit is in today’s economy.
Many people think you have to have a lot of money to do it, but that’s not true. Actually and it’s pretty easy to do — and we’ll show you how.
Millions of Americans struggle to raise their credit scores because of unwise financial decisions, but you can be different. You can build credit fast by taking a few simple steps.
Let’s go over the ways so that you can begin to get financially sound. Here’s what you need to do:

1. Get Added As An Authorized User On A Credit Card

Ask someone to add you to their credit card as an authorized user. Obviously this will likely be a family member, spouse or close friend. Really close friend!

You don’t even ever have to use the credit card so there’s no risk to them.

On the other hand, you will benefit from the authorized user’s wise use of credit. Over time, this will improve your credit as well.

2. Apply For A Secured Credit Card

The benefit of getting a secured credit card is that you have to pay upfront. As you wipe away your monthly debt, you begin to boost your credit history.

The key to getting fast credit is to pay for whatever you swipe at the end of the month. Pay it in full. That way, you’ll get credited with a zero balance after 30 days, which is an A1 credit practice.

3. Get Credit For Paying Your Bills

A relatively new financial product is the rise of rent-reporting services. These services report your bill payments to the credit bureaus.

That means you can get credit for psyching your light bill or other utilities.

How Long Does It Take To Build Credit?

A lot of consumers may need to build credit quickly because of a big purchase, like a house, car or even a TV.

But it’s going to take several months — figure about six months — for your credit score numbers to rise.

The reason it takes so long for your credit score to rise is because the credit agencies, Experian, Equifax and TransUnion, need to build a report on your credit history.

Also, FICO requires that at least one of your credit accounts be open for six months, so the credit bureaus like to use those six months to monitor your financial decisions.

Final Word

It’s always a good idea to get request your credit report to see where you are credit-wise. By law, you get one free credit report from each credit reporting agency.

Up Next: How To Dispute Your Credit Report

https://atlantafi.com/how-to-dispute-your-credit-score-really-easily/

More Articles From Atlantafi.com:

Tee Johnson: Tee Johnson is the co-founder of AtlantaFi.com and as an unofficial ambassador of the city, she's a lover of all things Atlanta. She writes about Travel News, Events, Business, Hair Care (Wigs!) and Money.

View Comments (1)

  • My score has hovered around 726-740 for about a year now. I have no negative marks, no late payments, no fees for balance carries. I have one credit card for that has a credit line of 7,450 I do have a student loan that I’m paying on for 35,000 and this keeping my credit score from going. I want to apply for a loan but I need a score in the 800’s. I needed my score to get up quicker, fair enough a very close relatives informed me about Michlex114 @gmailcom who I emailed if he could help me out. He replied and assure me he’ll get my credit fixed he explained how he’ll get it done and to my surprised he keep to his promise, my credit increase to 830 in few weeks. I re-apply for the loan and I was granted. Apparently there are professional who can help you repair your credit fast and I can boldly say Michael is a credit expert