10 Steps to Increase Your Credit Score by 100 Points in 2023

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Simple steps can steadily increase your credit score.

Key points

  • Increasing your credit score by 100 points can determine the type of credit you qualify for.
  • The first step is to check your existing credit reports for errors.
  • Keeping your balances low and avoiding closing old accounts will also help improve your score.

There is more than one type of credit score, but the one most used by lenders is FICO.®. FICO® scores range from 300 to 850. The higher your score, the better you seem to have handled credit in the past and the more likely you are to get a good-rate loan when you need it. Credit scores affect a wide range of things, from whether you qualify for a low-interest credit card to whether you qualify for certain jobs.

credit rating

While increasing your score by 100 points may not sound like a lot, it can easily move you from one credit rating to another. Take a look at this table:


FICO® Score Ranges



Very good








Source: FICO®

Your credit score is one of the factors in the amount of interest you will pay on a loan. If simply increasing your score by 100 points can save you money, isn’t it worth doing?

The following steps can help you increase your score by 100 points or more in 2023.

1. Check your credit report

You are entitled to a free copy from the “Big 3” credit reporting agencies once a week until 2023. You can order them all in one place through a site like annualcreditreport.com. Once you have them in hand, go through each report with a fine-toothed comb, looking for errors. For example, if a creditor incorrectly reported that you were late on a payment, discuss it with the credit reporting agency in question (each report may contain slightly different information).

The credit reporting agency has 45 days to prove that the negative comment is correct or to remove it from your report.

Getting rid of inaccurate negative feedback is one of the fastest ways to give your credit score a boost.

2. Catch up, if necessary

If you fall behind on any payments, focus on catching up. You can’t change what happened in the past, but you can take control of the future. Once you’re current, all those regular and on-time payments you make will increase your score.

3. Settle charges

If there are any collections in your report, get them paid off as quickly as possible. Creditors worry when they see a credit report that includes collections. In the meantime, please continue to make your payments on time each month.

4. Keep balances low

Debt-to-income ratio (DTI) refers to the amount of debt you have in relation to the amount of credit you have available. The lower your debt load, the better. For example, if you have a credit card with a $10,000 limit, an outstanding balance of $1,000 looks better than a balance of $9,000.

5. Do not close accounts

It can be tempting to close accounts that feel like a weight around your neck. Resist the urge. Closed accounts (even if you closed them yourself) mean you have less credit available to you. The less credit you have available, the higher your DTI will be.

6. Pay off debt instead of transferring it

The ability to transfer debt from one credit card to another makes it easier to hold on to debt rather than pay it off. In addition, each time you make a transfer, there are fees that are added to your balance.

Instead of transferring debt, adopt a debt payment plan that will allow you to pay for it consistently.

7. Apply for new credit sparingly

Creditors get nervous when they see you regularly apply for new sources of credit. Only apply for credit when you really need it. And if you are buying a mortgage or an auto loan, make all your loan purchases within two to four weeks. Lenders understand that you are looking for the best loan when you make a large purchase, so they count multiple inquiries in a short period of time as one inquiry when the loan is for the same purpose.

8. Mix it up

Your FICO® Get benefits when you have a combination of different types of loans. For example, you may want a combination of installment loans and Credit cards. This makes it clear that you can manage all types of credit.

9. Ask a family member with good credit to add you to an account

If someone close to you has a excellent credit score, ask them to consider adding your name to one of their smaller accounts. For example, they can add your name to a credit card. Although you will never actually use the card, each time the person makes a monthly payment, it will be reported to the credit bureaus in both names.

10. Consider Experian Boost

One way to increase your credit score quickly is by using Experian Boost. Boost allows you to obtain credit with the credit reporting agencies for payments that are not normally reported. This includes things like one-time phone payments, utilities, and streaming services.

According to Experian, the average increase for those who have signed up for the program so far has been 13 points.

While a lower-than-expected credit score can be painful, it’s not the end of the world, particularly since there are steps you can take to turn things around.

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