Boosting credit score overnight is impossible as there are a lot of procedures followed in updating your credit activities. After finding that you have a poor credit score, you try to find out what has impacted your credit score. You may have outstanding dues to be paid to the lender, you may have incorrect data on your credit report, or you may have a settled or written off account, etc. Any one of these factors may have affected your credit standing.
You may now try to clear the negative issues by repaying the outstanding dues to the lender. You should be aware that it takes up to 90 days to get your credit activity updated on your credit report after being reported by the lender. Hence, the payment you made to the lender gets updated only much later.
When you have cleared your negative issue, your credit score only stops from dropping. It remains intact but does not show any improvement immediately. Your credit score will show an improvement from the current position only if you have an active credit that is being repaid consistently on time.
For example, you have cleared a negative issue on a personal loan. Your credit score now stands at 570. It will the remain the same if you do not have any other credit active. On the other hand, if you use a credit card, your credit score may show gradual improvement over a period on regular repayment.
If you have poor credit score and want to improve it, you can check out
CreditMantri’s Credit Improvement Services.