Everyone knows how important your credit score is. It not only affects whether or not you’ll be approved for credit such as an auto or a home loan, but also affects the interest rate you’ll receive on these loans.

Therefore, you should improve your credit score not only because the commercials and billboards tell you to; it can actually save you money. Since I’m all about saving money, I’ve put together these 3 quick ways that can help you raise this score by the next time your score is calculated (usually every 30 days).

#1: Pay your Credit Cards Down Below 20%

Many people use their credit card on a monthly basis. They buy groceries on it, put gas on it, and then pay it off every month. The trouble with this is that if your credit card balance is above 16% of your total limit, this can lower your score. It doesn’t matter if you pay it off every month or not. It’s a simple calculation of current balance divided by limit.

#2: Ask for a Credit Limit Increase

Having higher credit limits, even if you don’t intend on using them, shows you’re more financially healthy. Raising your combined credit limits from less than $2,000 to over $10,000 can have a quick effect on your score, upwards of 15 points.

#3: Check and Remove any Credit Discrepancies

Did you know that 75% of Americans have at least one discrepancy on their credit report. With the prevalance of common names and human data-entry error, it’s easy and probable that you’ve got negative information reporting on your credit report that’s not even yours. This can be easily fixed by writing a letter to the credit bureaus and disputing the discrepancy.

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