A credit score is a number between 300–850 that reflects a person’s creditworthiness. The borrower looks better to the potential lenders if the credit score is high. It is based on credit history. Credit history means the number of open accounts, total debt levels, repayment history, and other factors. 

There are several ways to improve your credit score. Some tips to improve your credit score fast are:

• Keep checking the credit scores online
  Checking the credit scores online will enable you to identify the factors that affect the credit score. The risk factors will help in making alterations to improve the credit score.
• Repaying the bills timely
  Past payment performance is a good predictor of future performance. It can positively influence the credit scoring if you pay all bills on time as agreed. It influences the lender’s decision to lend credit to the borrower as they know the borrower’s creditworthiness.
• Get credit for making timely cell phone payments
  By making utility and cell phone payments on time, you can improve the credit score by factoring payments through a new and free product. The consumers can connect the new product to their bank accounts to identify utility and telecom payment history.
• Paying off debts and keeping a low balance on credit cards
  A credit utilization ratio is an important number for credit score calculations. A low credit ratio communicates the borrower’s ability to repay credits on time and manage credit well. Paying off the debts and keeping a low balance on credit cards helps in improving the credit score.
• Avoid applying for too much credit
  Applying for too much new credit will increase the total credit limit, but it will also invite a hard inquiry on the credit report. Such hard inquiries can negatively impact and lower the credit score as they remain on the report for a minimum of two years.
• Customizing the credit limit
  Restricting your credit usage has a positive impact on the credit score. Your credit score will improve if you limit the use as per the allotted limit. Maxing out the limit has the opposite effect and lowers the credit score.
• Opting for long tenor on loans
  Opting for a longer tenor to repay borrowed loans will ensure low EMIs and timely loan payment. When you don’t skip paying the installment, the credit score will automatically improve.

  These are a few tips to improve your credit score fast. The lenders use the credit scores to evaluate and ascertain the probability of the potential borrower to repay the loans promptly. The credit score affects the borrower’s capacity to repay and reflects how little or how much the borrower can pay on any credit lines that are lent to him.