Order a free copy of the credit report from each of the three credit reporting agencies; Experian, TransUnion, and Equifax. Check for any discrepancies such as pending payments appearing in the report that you have already taken care of. Dispute and get any errors that you come across fixed as soon as possible.
Another way to improve your credit score fast is to get a major credit card such as Visa, American Express or Discover. If getting a major credit card is not possible for some reason, get a ‘secured card’ instead.
Keep a check on your earning and your spending. The best way to accomplish this is to make a monthly budget and stick to it at all times.
Open at least one checking, savings or at least pre-paid charge account with a major bank. One of these accounts appearing on a credit report is taken as a sign of financial stability.
For small purchases, use a credit card instead of cash. However, you would need to make sure that you are able to pay off your credit card purchases at the end of the month.
As soon as a credit card bill comes in the mail, take care of it in full. If you are one of those people who tend to forget making payments, consider setting up automatic payments.
If you have multiple credit cards, use all of them to avoid one big balance on a single card. This will have a positive effect on your FICO credit score.
Having a credit card and not using it to make purchases has a negative effect on your credit score. Similarly, using your credit cards often and paying off the bills would help build a good credit rating.
Consider transferring the debt you owe to other means such as a monthly instalment plan. Even though you will be charged a higher interest rate in this case, credit card score gets a great boost if an instalment plan is appearing on the credit report.