The speed at which you can increase your credit score depends on several factors, including your current financial situation and the specific actions you take. Here are some common strategies and their general timelines for improvement:
1. Paying down credit card balances: If you reduce your credit utilization (the amount of credit you're using compared to your total available credit), you could see an increase in your score within 30 to 60 days, as credit card companies report balances to credit bureaus monthly.
2. Disputing errors on your credit report: If there are errors or inaccuracies on your credit report, successfully disputing them could lead to a significant score increase in about 30 to 45 days after the investigation is resolved.
3. Becoming an authorized user: If you become an authorized user on someone else's credit card with a good payment history, your score might improve in the next one or two billing cycles.
4. Establishing a positive payment history: Consistently paying your bills on time can show positive effects on your score after several months. Missed payments, however, take time to recover from.
5. Avoiding hard inquiries: If you're applying for new credit frequently, each hard inquiry can cause a small drop in your score. By avoiding new inquiries, your score can slowly improve over several months.
For someone in a credit repair program like Project 750, which works with dealerships, their strategies might focus on targeting specific negative items or working on optimizing credit profiles tailored to auto loans, potentially expediting the improvement process. It’s important to discuss the best approach for your specific situation with a credit repair professional.