Most of us want things fast. If we want a new house or a new car, we typically go for home and auto loans to get them. If we want to buy things (for example, grocery items) and our payday is still a week, we go for credit card purchasing. The emergence of credit industry made it possible for most people to obtain expensive things even if they cannot buy them outright. However, getting approved to your applied loan is not easy. You have to meet the criteria of most lenders.

Most lenders will first look on your capability to pay for your loan. They will look into your credit report especially your credit score. Credit score is invented by Fair Isaac to know the people who are at risk of being a credit failure. This system by the Fair Isaac was utilized by the three governing credit bureaus to determine which borrower is capable or those who possesses low to no risk in credit industry. Home or any other types of loan today are simply determined by these three digit score. However, you can be an excellent and honest person that pay bills on time, it doesn’t necessary means that you are a good risk, there will be instances that they will mark you as a “poor’ risk while the person who files for bankruptcy few years ago may get the loan that you are applying for. How is this possible? The type of loan that you apply for plays a major role in it. If you, a great person, just go for credit card or any other unsecured debts may not get your wanted loan. But for a person who file bankruptcy few years ago who apply for a home or car loan, they may get that loan because what they loan is a secured debt. These kinds of debts are what lenders like because it they can take the home or car if the borrower cannot pay any longer. The bottom line is, credit score is the most important basis of being approve so you must improve you credit score.

How fast can you improve your credit score? It differs, especially on the efforts that you will put in boosting your credit score. One can improve their score in just 24 hours; others can do it few days to a week. Some can take months while great improvement can be seen for a year or so. So what are the ways to do it fast? Know your credit report aside from your score. If you see any wrong information in your credit report, dispute it right away. Give a proof that you already have pay for these and that. Contact your credit bureaus through phone or via Internet to dispute the inaccuracy in your report. By doing this, you give your score a chance to increase from 5 points to 20. As you dispute data, look for any debts or bills that you can pay and immediately pay them off. Ask for a payoff or deletion letter to your creditor for this will served as your proof. Fax the proof the credit bureaus and let them take necessary actions. It will take 30 days at most.

Remember, every data in your credit report is important in your credit score hence you should make sure that they are correct for these data will affect your score and how fast can you improve your credit score if you have a poor score.