5 Quick Wins to Improve Your Credit Score in 30 Days in Nigeria

A good credit score is essential for accessing loans, mortgages, and other financial products in Nigeria. Lenders use it to assess your creditworthiness, influencing loan approval, interest rates, and borrowing limits. If you have a low credit score, the good news is that you can improve it quickly with the right steps.

This guide highlights five quick ways to fix a bad credit score and boost your chances of securing better financial opportunities.

Quick Win 1: Check Your Credit Score & Review Your Credit Report

Your journey to better credit starts with knowing where you stand. Check your credit score in Nigeria using a trusted credit bureau through nairaCompare. Reviewing your credit report helps you identify errors such as:

• Incorrect personal details

• Wrong loan balances

• Accounts mistakenly marked as delinquent

If you find errors, file a dispute with the credit bureau to correct them. Fixing inaccuracies can instantly improve your score.

Quick Win 2: Pay Down Outstanding Debts

High outstanding debts impact your credit score, especially if your credit utilization is above 30%. To fix this:

• Use the Snowball Method (pay off the smallest debts first for quick wins
• Try the Avalanche Method (pay off high-interest debts first to save money
• Make extra payments on outstanding loans and credit cards.
• Lowering your debt balance reduces your credit utilization, signaling to lenders that you are financially responsible.
  
  

Quick Win 3: Automate Bill Payments to Avoid Late Fees

Payment history is the biggest factor (35%) in your credit score calculation calculation. Even one missed payment can hurt your score. To avoid this:

• Set up automatic bill payments for loans, credit cards, and utilities.
• Use payment reminders via banking apps.
• Pay bills on or before payday to ensure funds are available.

Consistently making on-time payments is one of the best strategies to increase your credit score in Nigeria.

Quick Win 4: Lower Your Credit Utilization Ratio

Your credit utilization ratio is the percentage of available credit you are using. If it’s too high, lenders see you as credit-dependent. Lower it by:

• Paying down credit card balances.
• Spreading purchases across multiple credit cards to keep individual usage low.
• Requesting a credit limit increase (but avoid hard inquiries).
• Keeping your credit utilization below 30% improves your score and shows lenders that you manage credit well.
  
  

Quick Win 5: Avoid New Credit Applications

Each time you apply for a new loan or credit card, lenders conduct a hard inquiry, which temporarily lowers your score. During the 30-day improvement period:

• Avoid applying for new credit cards or loans.
• Don’t request unnecessary credit limit increases. Hold off on store-financed purchases requiring credit checks.
• Too many hard inquiries in a short time signal financial distress, negatively affecting your score.

Final Thoughts: How to Improve Your Credit Score Fast

 Improving your credit score doesn’t take years. By following these five quick wins, you can see positive changes in just 30 days:

Building and maintaining a strong credit score requires consistent financial habits. Monitor your credit report regularly and apply these strategies to access better loan options.

How do I check my credit score? Visit nairaCompare to compare financial products and access the best credit-building tools in Nigeria.