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How to Raise Credit Score by 100 Points

Scholasticus K Jun 18, 2019
A credit report is like a financial report card of every individual. A person who wishes to apply for a loan would want his credit score improve ever so slightly and here are some simple tips to achieve the same.
To raise the credit score by 100 points, you will require a proper action plan, and patient execution of the same plan will boost up your credit score quite easily. Credit score calculation, is basically a formula that adds up all your credit-related activities and gives the credit score.
Thus, if you want to raise your credit score by 100 points, all you would have to do is, know the formula. Find out what is affecting the formula in a negative manner and then correct the same.

What is in Your Credit Score?

It is first necessary to understand what constitutes a credit score. Today, prominent credit rating agencies such as, Equifax, Experian and TransUnion, use the credit score formulas devised by FICO (Fair Issac Corporation). In order to know how to raise your credit score, 100 points up, we need to know the formula, of the scoring system.
Though the exact formula has not been disclosed, FICO, as a consumer awareness measure, has disclosed the factors which are added up to get the credit score. Here are the constituents in their proportions:
  • 35%: payment history
  • 30%: amounts owed
  • 15%: length of credit history
  • 10%: new credit
  • 10%: types of used credit
All you need to do is plan proper measures to ensure that nothing in formula sucks down the entire score. Then you can start working on pushing up the score.

How to Raise Credit Score by 100 Points?

Of recent, several people have asked queries such as 'how to raise your credit score, 100 points in 30 days', or 'is it possible to raise credit score by 100 points in 30 days', or 'how long to raise credit score 100 points'. Well the very frank answer is, it depends!
As your planning and execution plays a very crucial role in bumping up the score on the credit score rating scale. Thus there are three things that you would need to bear in mind, one a keen and realistic plan, two timely execution, and three, good back up plans in case the original one goes haywire. Here are some effective improve credit score tips...

Research your Statements

If you are pondering, 'how to raise your credit score, 100 points up', then there is some very important things that you needed to examine, namely all your financial statements, such as bank statements, credit card bills, dues and loan statements. Also go through your credit report, as you might find something of importance in there.
Make sure that you analyze and counter check the credit report while reading it, as there is a probability that you will come across a mistake that is holding back your credit score. In such instances, you will need to take up a credit report dispute with the company.

Pay off Properly

Now, the most integral part of the answer to the query, 'how to raise your credit score, 100 points up', is your payment history. This constitutes 35% of your credit score. Hence, in all your statements, check the number of pending debts or the ones which are due or about to become due.
In order to rise the score, take out a huge chunk of your salary and divide it into proportions of the due debts and pay them off. Continue this till you have paid off pending debts and continue the same thereafter. In the time when you are paying off the pending debts, you will have a tough time and extra cash would be a scarcity, so be mentally prepared.

Amounts Owed

This factor is quite similar to that of payment history, and constitutes about 30% of your credit score. The problem is that if the total amounts owed are too less than the factor is going to bring down you credit score. The key is to maintain the total amount owed at such a level, that you have no due debts and you have to pay only what is due.
In order to raise credit score, 100 points up, you will have to bear in mind one very important fact that paying bills perfectly on time is the key to raise the credit score. Hence, once you are done with paying off the pending debts, maintain a strict and steady bill pay off schedule.

The Requisite Length

In order to raise your credit score, you will also have to take into consideration the length of the credit history, this is of course quite out of your hand, as the length will grow as per your age or as per the time since you started using credit.
Though this factor is not exactly in your hand, make sure that you don't break the credit history by remaining totally inactive. To keep the credit history alive, you can use prepaid credit cards.

New Credit

While raising your credit score you will have to borrow, new credit - myth. Lenders and agencies will feed you nonsense that you will have to keep on borrowing to increase the credit score. It is true that borrowing will help you to get the credit score up a few points, but bear in mind that excessive borrowing in itself is a doom.
Work on some solution as new credit adds up to 10% of the credit score. Taking prepaid credit cards or fixed APR credit cards, bank overdraft in a carefully planned manner will help you to bum up your credit score.


Now the last factor is the different types of credits that you have used. This is a crucial aspect and keeping the number of credits used in control is essential. The best way is keep 4 types of credits going on, namely, your mortgage or home loan, one fixed APR credit card, a couple of prepaid credit cards and a loan such as an auto loan or a student loan.
If you look at the entire system closely, it encourages you to borrow credit as maturely as possible. Keeping the credit report totally stagnant, pulls down the score and at the same time borrowing excessive credit is unhealthy as you would not be able to make timely payments, thereby pulling down the credit score.
Hence, you need to be careful when you improve credit score fast, or even borrow something. To sum it up, we would suggest, borrow in proportion.