Sponsored ads:

Even though credit score takes into account your history, there are some steps that can be done to make a fast and significant impact on your credit score.

Check them out and see what might work for you:

  1. Up to date limits: Make sure your reported credit limits are current and not older and lower than they actually are. (Make sure it seems like you are not using that credit to the max each month). If the card issuer forgot to mention your newly bumped-up credit limit, request that this be done.
  2. Leave old debt on your report, if it was handled well.
  3. Dispute errors that may have occurred (you can do it online throughTransUnion, Equifax or Experian).
  4. Negotiation: youcan ask creditors to erase a debt or an account that went to collection. A way of doing that is to write a letter asking to pay the remaining balance if afterwards the creditor will remove the account or will report it as “paid as agreed” (Don’t make a payment before you get an agree in writing from the creditor).
  5. Get a credit card: getting a credit card or even more than one, can improve your score (assuming you will pay on time and that you won’t charge them too much). If you are having trouble getting a credit card, try getting a secured credit card (from someone that reports to all three major credit bureaus).
  6. Authorized user: convince a relative or a friend to add you to his existing credit card account
  7. Don’t max your credit cards: “credit utilization ratio” should be less than 30% ideally
  8. Raise your credit limit: Ask your creditors to increase your limit, so it will be easier getting less than 30% “credit utilization ratio”
  9. Don’t cancel a credit card, this will cause your available credit to drop, and that of course doesn’t look good in the report.
  10. Pay the bill on time: 35% of your FICO score depending on it.
  11. Pay your bills frequently: if you pay, for instance, twice a month you will be using less of your credit limit because expenses has less time to accumulate up to the limit

Sponsored ads: