Improve Your Credit Score with Chase's Tool | Chase (2024)

These days, it seems like everyone is focused on their credit score—what their current number is, what score is needed to get a credit card and how new purchases and old debt affect the larger picture. Admittedly, it's a lot to consider, especially when your financial welfare is at stake. Whether you want to secure a better rate on a car loan, increase your chances of getting a new credit card or put yourself in a better position to be approved for a mortgage, improving your credit score can make a difference.

If you're looking to realistically increase your credit score, it can be hard to visualize how your day-to-day actions can affect your progress. That's where credit planning comes in. By presenting you with an action plan, this feature of Chase Credit Journey® can help you to improve your score by more than 5 points. Let's explore how a personalized action plan can help lift your credit score.

What is credit planning?

Before we dive into increasing your credit score with credit planning, you first need enroll in Chase Credit Journey. This free online tool provides you with a VantageScore® 3.0 credit score, a credit report provided by Experian™—one of the 3 main credit bureaus—and helpful resources to better understand what your current credit score means. This tool is essential for setting achievable credit score goals, whether that's looking to improve a credit score that has dropped or trying to figure out how to make significant purchases then improve your score.

Once you receive your credit score, you can determine what it is that you're looking to do with it. Want to improve it? Looking to take out a new credit card account? Whatever your motivation is, you can set up a personalized score goal for yourself by going to the "Insights" tab of Credit Journey®. From there, click on "Score Planner," which is the feature that will be able to generate your action plan.

First, you'll want to provide us with information about your upcoming financial plans. Are you looking to improve your score to get a good rate on a mortgage? Are you looking to rent your first apartment and want to be approved for a lease? Our questions will prompt you to narrow in on your goal (or goals).

Next, set a timeframe. Goals are chunked out in increments of 3, 6, 9 or 12 months. You set the timeframe and we'll tell you what's achievable.

Finally, receive your action plan provided by Experian. This is an essential part of credit planning—it will serve as your personal guide to improve your credit score. This plan is based off your current credit score, credit report and when you want to reach it by.

How planning with Credit Journey helps improve your score

Using your personalized plan doesn't directly impact your credit score—it's what you do with the plan that determines the outcome. It all comes down to your actions and choices that you make guided by your personalized action plan offered by Experian.

For example, let's say you set a goal to improve your credit score by 10 points within a 12-month time period. You may be given a list of action items, including, but not limited to:

  • Pay off a specific account until the balance is less than $100.
  • Pay a total of $1,000 towards any of your accounts.
  • Open a credit card account with a limit of at least $500.
  • Pay down on these accounts until each of their balances is less than $100.
  • Bring your credit usage below 50% on all open accounts.
  • Keep your accounts open and continue making your payments on time.

Once you've completed a certain task, you will receive a ribbon congratulating you on achieving a step towards your reaching your goal. As a result, you could begin to see improvements to your score by more than 5 points—that is, if you perform these actions without impactful events (such as bankruptcy) interrupting the plan. You may very well reach your goal of 10 points by the 12-month mark if you continue to follow the steps in your action plan.

Over time as you complete these tasks, your credit score may start to trend upwards. You can use the score tracker to help visualize how far you've come and how much left you have to meet your goal.

Why monitoring your credit score is important

Monitoring your credit score helps you catch suspicious activity early, see how your actions affect your score and assists with keeping your credit score healthy. This is a part of regular maintenance needed to keep a strong credit score.

The credit planning feature provides you access to visual aids that show how your credit score performs over time. Every credit score refresh is archived so you can check when your score changed. This can help you track how far you've come and how far you have left to go towards reaching your goal.

Regardless of the reason why you want to start planning your financialgoals, remember that actionable steps are an important part of achieving credit score goals. By setting up goals with Chase Credit Journey's credit planning feature, you'll feel empowered by following a path that can help improve your credit score and enhance your purchasing power.

Improve Your Credit Score with Chase's Tool | Chase (2024)

FAQs

How to make your credit score go up with Chase? ›

Start by paying off your high interest rate cards: put all your effort into paying off a higher rate card, while maintaining payments on all other cards on auto pay. Once you've paid off the balance, don't cancel your card! Keep it open, even if you don't use it, so you can boost your credit utilization.

Can Chase Bank help me fix my credit? ›

Note: Chase does not offer these services, but Chase has other resources available to you that can help improve your credit score at no cost, such as enrolling in Chase Credit Journey®. Some credit repair companies can be helpful, but not all of them are created equal.

How to push past 750 credit score? ›

6 easy tips to help raise your credit score
  1. Make your payments on time. ...
  2. Set up autopay or calendar reminders. ...
  3. Don't open too many accounts at once. ...
  4. Get credit for paying monthly utility and cell phone bills on time. ...
  5. Request a credit report and dispute any credit report errors. ...
  6. Pay attention to your credit utilization rate.

Why won't Chase give me a credit increase? ›

If Chase denies your request to increase your credit limit, there may be a few reasons for it. First, it's possible that you don't qualify based on your credit history, income or account history. Ask for information about the denial and take steps to improve your situation.

How to get 850 credit score fast? ›

I achieved a perfect 850 credit score, says finance coach: How I got there in 5 steps
  1. Pay all your bills on time. One of the easiest ways to boost your credit is to simply never miss a payment. ...
  2. Avoid excessive credit inquiries. ...
  3. Minimize how much debt you carry. ...
  4. Have a long credit history. ...
  5. Have a good mix of credit.
Oct 13, 2022

How to raise your credit score fast? ›

  1. Pay credit card balances strategically.
  2. Ask for higher credit limits.
  3. Become an authorized user.
  4. Pay bills on time.
  5. Dispute credit report errors.
  6. Deal with collections accounts.
  7. Use a secured credit card.
  8. Get credit for rent and utility payments.
Mar 26, 2024

How to rebuild credit quickly? ›

If you want to improve your credit quickly, the following strategies could help:
  1. Use a reputable credit repair service.
  2. Prioritize and pay outstanding debt.
  3. Explore secured credit cards.
  4. Become an authorized user.
  5. Develop a budget and stick to it.
Feb 27, 2024

How to shoot your credit score up? ›

How to Build Good Credit
  1. Review your credit reports.
  2. Get a handle on bill payments.
  3. Use 30% or less of your available credit.
  4. Limit requests for new credit.
  5. Pad out a thin credit file.
  6. Keep your old accounts open and deal with delinquencies.
  7. Consider consolidating your debt.
  8. Track your progress with credit monitoring.

What is the 5 24 rule for Chase? ›

The 5/24 rule is an unofficial policy that dictates that Chase won't approve you for its cards if you've opened five or more personal credit card accounts from any issuer in the last 24 months. Put simply, the number of cards you've opened in the previous two years will affect your approval odds with Chase.

Does Chase ever increase credit limit automatically? ›

Chase's Automatic Credit Limit Increase

If this happens, you will receive notification via a letter or on your credit card statement. An automatic CLI typically results in a soft credit inquiry. Chase may consider your account for an automatic CLI in as little as six months, although this may also extend to 12 months.

How often will Chase increase its credit limit? ›

Chase will increase your credit limit no more than once every six months if you ask for an increase yourself. You can also wait to see if Chase will offer you an automatic credit limit increase. This may happen as often as every six to 12 months.

How can I raise my credit score 100 points overnight? ›

  1. No, it is not possible to raise your credit score overnight. ...
  2. Improving your credit score typically requires responsible financial behavior over an extended period. ...
  3. Pay Your Bills on Time: Consistently make on-time payments for all of your credit accounts, including credit cards, loans, and utilities.
Oct 25, 2023

How to get a 900 credit score in 45 days? ›

Here are 10 ways to increase your credit score by 100 points - most often this can be done within 45 days.
  1. Check your credit report. ...
  2. Pay your bills on time. ...
  3. Pay off any collections. ...
  4. Get caught up on past-due bills. ...
  5. Keep balances low on your credit cards. ...
  6. Pay off debt rather than continually transferring it.

How to increase credit score by 100 points in 30 days? ›

Steps you can take to raise your credit score quickly include:
  1. Lower your credit utilization rate.
  2. Ask for late payment forgiveness.
  3. Dispute inaccurate information on your credit reports.
  4. Add utility and phone payments to your credit report.
  5. Check and understand your credit score.
  6. The bottom line about building credit fast.

How long does it take to build a credit score with Chase? ›

Due to the above factors, it could take anywhere from 3–6 months until you've established your first credit score. This report shows your payments, payment status and other key info like derogatory remarks. After you've established your first credit score, you may begin to receive updated cores on a regular basis.

How often does Chase increase credit? ›

Chase will increase your credit limit no more than once every six months if you ask for an increase yourself. You can also wait to see if Chase will offer you an automatic credit limit increase. This may happen as often as every six to 12 months.

What credit score is good for Chase? ›

Most Chase credit cards are intended for consumers with good to excellent credit scores (FICO® Score of 670 or higher). A score above 700 is even better and gives you a strong chance at approval.

What is a very good credit score Chase? ›

So, what is considered a good credit score? There are multiple credit scoring models which have different ranges, but generally speaking, scores from 580 to 669 are considered fair, 670 to 739 are considered good, 740 to 799 are considered very good and 800 and above are considered excellent.

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