Having a good credit score is good for your reputation with lenders, and can open doors to financial opportunities. A bad credit score, on the other hand, can cost you opportunities and put you in dire financial situations.

Is your credit score lower than you’d like? Do you want to build it as fast as possible? This can be done if you decide to take it more seriously. While there are no shortcuts to achieving a good credit score, there are several little you can do to build it faster. Here are five viable means to do it:

1. Pay Your Bills on Time

If you have a habit of paying your bills late, no strategy can help you improve your credit score fast. Payment history has a strong effect on credit scores, and paying your bills on time will improve your score significantly. Note that all bills count. In addition to credit card bills and loans, pay your rent, utilities, phone bills, and others on time too.

2. Pay Off Your Debts

Credit utilization is another important ratio in the calculation of credit score. This is heavily linked to the amount of debt you currently owe. If you can pay off your debt, it will be very helpful in building your credit score fast. You should also try to keep balances low on credit cards and other revolving credit.

3. Request a Credit Limit Increase

Another way you can lower your overall credit utilization is to get a higher credit limit and keep your balance the same. It is a good strategy, therefore, to request for higher credit limit even when you don’t intend to spend more. This strategy will even work faster if you regularly pay your bills on time.

4. Become an Authorized User

You will also benefit immensely when someone with a good credit habit adds you as an authorized user. If you have a good friend or relative with a long history of responsible credit card use, ask them to add you as an authorized user. You don’t need to use the card or even know the number. As long as the card user remains responsible, your credit card can improve tremendously.

5. Dispute Credit Report Errors

Errors in credit reports can keep you in a bad situation; you should never accept that. It is essential that you check your credit reports from all three credit reporting bureaus and ensure there are no errors. If you notice any mistake, report immediately. You can’t afford to neglect an error when you want to build your credit score fast.

There you have it! Above are some tips to build your credit fast. Your credit score has a strong influence on your overall financial well-being. It is important that you keep it healthy. By using the insightful tips provided above, you can build your credit fast and smartly.