Credit Building > Can you improve your credit score in 3 months?

Can you improve your credit score in 3 months?

Wollit Team3 minute read · Updated 14th October 2024

Your credit score is very important for your financial future. It can influence your chances of being approved for credit cards, loans, mortgages, mobile contracts, and many other things. A higher score also lets you get these products on better terms and pay less in fees and interest charges.

But sometimes—like when preparing for a mortgage—you might need a quick credit score boost to improve your approval chances and potentially get better terms.

Usually, credit score improvements take some time – but there are some things you can do to get a quick boost. Here's what's actually possible.

How long does it take to raise my credit score?

The time it takes to see some improvement in your credit score can vary depending on what you do:

Paying on time: If you have never officially borrowed before, it can take six to 12 months of consistently paying on time to improve your credit score.
Reducing your spending on your credit cards: If you can stay under 25% of your credit limit, this can boost your score fairly quickly, as banks and credit card providers usually report this information monthly.
Recovering from missed payments: After missing a payment, it will be recorded on your credit file and stay there for 6 years. However, over time, its impact will start to fade. Your credit score could begin to recover after around six months and should be fully recovered after a year.
Defaults, bankruptcies, court orders, insolvency: these will also stay on your file for 6 years, but their impact will be felt for longer than a missed payment. Expect no real credit score improvement for at least the first two years.

What are some things that I can do to improve my credit score in the next three months?

While building your credit score takes time, and you need to be patient, there are some things you can do to give your credit score a quick makeover:

Sign up for Experian Boost, a free tool that connects your bank account to your Experian account, showing how well you manage money. Experian then looks at your regular payments, such as Netflix, Spotify, Council Tax, and ISA direct debits, and boosts your score if you pay on time. This can add up to 66 points "instantly", according to Experian. However, not all lenders care about this boost, and it's only visible in your Experian credit score, not Equifax or TransUnion.
Register to vote. This can add another 50 points and only takes four to eight weeks to show up in your credit score.
Lower your credit utilisation ratio: If you go under 25% of your credit limit, you should see a credit score increase in four to six weeks, depending on when your credit card provider reports it to the credit reference agencies.

If everything goes perfectly, adding another 100-150 points to your credit score (especially the Experian one) in the next three months should not be impossible. That doesn't mean it's guaranteed – but all the things above are free to do, so it doesn't hurt to try.

What else can I do to improve my credit score, even if the impact is not immediate?

Unfortunately, most things you can do to improve your credit score take time.

Your credit score is meant to show how reliable you are as a borrower, which is why credit reference agencies will look not only at your last three months but also at your last six years.

That's how long things stay on your credit file, which is how your credit score is calculated.

But if you're patient and are looking to improve your credit score beyond just the next three months, these are the following things you can do:

Avoid moving home frequently if you can. This isn't always possible, but lenders want stability in your life. Moving home often may make them wonder why you're doing it. Are you having trouble paying rent?
Pay your bills on time: Your payment history significantly impacts your credit score. To improve it, make sure you pay your bills on time. If you miss payments, your score will drop. Being late by even a few weeks can hurt your score and incur extra fees and interest charges.
Build your credit history: Having no credit history, or only a small amount, can make it hard for lenders to determine whether you're risky, which is why your credit score may be lower. This is a common problem for young people and people new to the UK. Luckily, there are tools you can use to do this.

One such tool is Wollit. Wollit is a credit-building app that reports your monthly subscription as a loan repayment to all three credit reference agencies, potentially helping you improve your credit score. It also reports your rent payments to Experian, adding another line to your credit file that shows you pay your bills on time.