My credit score is only 530 [very poor],what number my credit score should be for it to be at least [fair]?

And what should i do to boost my score up fast, less than 6 months

Public Comments

1. you will see that raising your score is a long process. You want to try to get to around 620. If you are never late on payments, that will start you upwards. Also take a look at your report, if there are any negatives, you can always send a letter to the credit bureau for debt validation. Dispute it. If the credit company doesn't respond within 30 days, they have to get rid of it and your score will go up.
2. for fair, you want to be between 620 and 680. Pay or dispute the bills on your credit report. Dispute late payments on your credit cards. Not sure if you can raise your score 100 points in 6 months. It took me 4 years to get my credit from a 500 midscore to 710 But definately paying your bills will make it go up. If your score is that low, i assume you dont make much money which is why you are not paying your bills and can probably not afford to pay everyone you owe right at once. Its not impossible to raise it to the 620s+ but you really should buy a credit repair book to see what else you can do to help it
3. Without knowing much about the situation, first off would be to build some positive trendlines, or lines of credit. First start off with CapitalOne. See if they will give you a credit card. They offer a $300 card to people with very little or poor credit. This will be a positive line on your credit reports. This should have NO annual fee. Next, try for an unsecured card from Orchard Bank. They might give you $250 on an unsecured (zero $0 down) card. If you fail to receive an unsecured credit card from Orchard bank, open up a Secured card from them. They will require a deposit minimum of $200 and give you a card for $200. This will report as a regular credit card and really help your credit. Next, go to http://www.crownjewelers.com and buy the cheapest item they have. They require no credit check to buy a piece of jewelry on credit. Buy a $30 item, put the minimum amount as a down payment and continue to pay minimum monthly payments. This will report as a $1500 credit line with only a $20-30 balance. That is very good. Each month, put all of your expenses on your Capital One card and pay in full each month. This is key, do not leave any balances, do not pay late and do not go over your credit limit. In 6 months your credit will have improved greatly from this guide. You could easily bring your credit back into the 600s by doing what I just detailed and making sure to keep balances low. Except crownjewelers, you want to keep paying the minimum on that so it stays active on your credit report. This guide just gave you atleast another $2000 in credit that will help with utilization, or the amount you have spent of your credit lines. Utilization is a big part of your credit score.
4. You should strive for at least 700. It is highly unlikely that you'll get to that in less than 6 months though. Your best bet is to go over the reason why your credit score is so low and make sure there are not a bunch of errors. To get started reduce the debt you owe or pay them off completely, starting with bank loans and credit cards. Make sure you always make your payments on time, even the minimum of the credit cards (you should always pay more than the minimum though). Any other bills should always be paid on time (utilities, phones etc.), it also has some bearing on your ability to pay. Talk to a credit adviser and see if you can consolidate the loans into one payment and pay it off. Once you've established a good track record only then will your score go up. It's a long hard battle but it can happen, it just depends on how fast you can get out of debt.
5. at least mid 600's to be fair. You need to realize that paying off old bills with the exception of credit cards will NOT improve your credit rating. The just get charged off the report it does NOT repeat DOES NOT improve your credit rating to pay off old medical, telephone etc. There's a lot that you can do to repair your credit though. first and foremost is DO NOT from this day forward miss payments on anything if you pay all your stuff on time for 1 year your credit could jump by 100 pts. Do some research and theirs a million ways to fix it.
6. Pay all bills on time....Take out a credit card that works where you give them money first..Then use the balance...Or get a very small loan..and make timely payments..Once you show a positive payment schedule of timely monthly payments you'll score will increase..6 months might be a good start..but it will take longer to get near the 650 area for a score..Just progress will help...So start today..
7. I am not sure what fair means to you, but you should strive for close to 700 if you want better lending options. 650 isn't too bad either but the lower you go from 700 the more likeley lenders will try to raise interest rates or down payments for you. Even though credit reports are somewhat needed so lenders can assess risk to their lending, it often is used to see how much money they can scam out of you. Basically use any little remark to get more money out of you. Oops, tangent...close to 700 is the answer..over 700 is prefered of course.