5 Ways To Increase Your Credit Score
This happens to be a very popular topic across the country. More and more people are looking for better education and information about their credit, how it’s rated and how to bring up their credit score.Here are 5 different ways that can help you raise your credit score that are fast, easy and effective.
1 Get Added On A Family Members Line Of Credit As A Signer. This is huge, what happens is you will inherit all of the good standing credit from the time they opened the card which will immediately impact your personal credit rating and have no negative effect on theirs.
2 Get Your Balances Below 30%. Example if you have a credit card and the limit is $1,000 you want to make sure your current outstanding balance does not exceed $300 which is equal to 30%. Paying down your debt to 30% or below will immediately impact your credit and raise your credit score.
3 Get Derogatory Items Permanently Deleted From Your Credit Report. Any derogatory item on your credit report is going to play a big role on your credit score. Having those items permanently deleted from your credit report will immediately raise your credit score and help you accomplish what you’re wanting to do financially.
4 Pay Bills On Time. I know this sounds very simple but you would be surprised how many people are unable to do it. I recommend utilizing bill pay with your financial institution or a calendar so you know when each bill is due and make sure it’s paid on time. Paying your bills on time will help raise your credit score.
5 Stop Having Your Credit Ran. The more hard inquiries you have on your credit score the more it will go down. Minimizing hard inquiries will help raise your credit score as it shows the credit bureaus you are not looking to borrow money from any financial institution that could potentially put you in a higher risk bracket.