A bad credit score is a chronic problem, and you need to fight it out to live a better life. But an okay credit score is also sometimes not enough when you are taking a really big business loan. Even then you may have to take some extra steps to increase the score to a near perfect level so that your creditworthiness in the market is proven in a great way, and no lender can ever say no to your loan application. This is not a tough journey if you plan it right. In fact, before taking a business loan, you take so many preparations, and working on your credit score, and becoming doubly sure about it is also a vital step. Else you may be all set for the venture, and the only missing thing would be the money or business principal which would drown your plans.

Inquire your credit score and report

The very first step to mend or check your credit score is to get the score. You cannot get the score like that. It’s a hidden statistics. Hence you will have to go through some organization or source, who can give it to you for free. You will have to find a source offering credit reports for free. Or you may even generate the credit report on payment of a small fee. There are many organizations to give it to you on payment of small fee. This way you get the credit report. Now that you have the report in hand, it’s time for analysis.

Your credit history would be the pathfinder

Your credit history in the report will help you find the right path, and pave the future. Based on what mistakes you did in your financial dealings in the past, you can take the right decisions for the future, and avoid old mistakes. For this, you will have to study your credit report thoroughly. On studying the report, you will find out where exactly you fell short, and what caused the exact lowering of the credit score.

Any old default payments, late payments, and rejections of your loan application, etc. are all recorded in your credit report. And you can see and remember and realize what caused the damage if any.

How to read your credit report

There are some important things you will have to read through the report and verify them. You must see that your identity details are all correct in the report including address, location and all. You will also have to check that all previous payment history, credit inquiry, etc. are correct. Public records if any in the report should also be verified. After all this, you will have to see where exactly you went wrong in the past if at all you did. In case you had some problem with debt payments which lowered the score, you are not without hope. You can raise your credit scorefast by following some strategies.

How to raise the credit score

Before you get to know how to raise your credit score, it’s vital to know how to avoid lowering of the score. There are some things which impact the credit score badly. They are:

  • When you miss a payment date and pay the debt late
  • When you do not pay the debt at all
  • As the delay in payment increases
  • Multiple delays in payment
  • When you are rejected a loan approval by any source due to some reason
  • Multiple rejections of loan and credit card approval from various sources

Plan to raise the credit score

You can plan to raise the credit score in two smart ways. One is by using a credit card, and another is by using a loan. A credit score is raised automatically when your creditworthiness is shown by your activities. This means that, as you pay back the debt taken on time or the installments of the loan on time, your creditworthiness gets proved, and this, in turn, improves the score too over time. This does not take too long and also does not happen overnight. It’s just a systematic process, which happens as per the records of you received by the scoring and monitoring agencies.

Raise your credit score through loan repayment

If you have no chance of getting a conventional loan due to the low score, you may try and get a quick no credit check loan. Such loans do get approved without checking the credit score, but they charge you a high rate of interest for this feature. But here you are not to be bothered by the rate of interest. Rather you must focus on paying back that loan EMI on time through the entire tenure. Let the loan be a short one for a small tenure, and by paying it back, and also as you gradually pay back, things will improve. Your score will also improve, and the credit history will also show the records.

Raise your credit score by paying credit card dues

This is an even simpler method that anyone can apply. If you already have a credit card, then you have the platform too. Else you need to apply and get a no credit check high-interest credit card. You need to make small purchases using your credit card which you can manage to pay back the next month by the due date. And you have to pay them on time. You have to keep doing this for some months to make an impression that you are now responsible for paying back your dues on time.


Credit card or loan, whatever you use to pay back dues on time, it will work sooner or later, and even the worst credit score can get a hike and gradually get quite healthy. Hence, if you are after planning a big investment, and know you will need money in future and may have to get a loan, then now is the time to act. Find out your credit report and score, and make efforts to make it the best.

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