7 Sneaky Hacks To Improve Your Credit Score Fast
Whether you accept or not but your credit score defines your ability to have the credit card at the rate you are offered or not. According to the report of credit.com, many people are having bad credit scores. If you are one of those people then these 7 moves will help you in boosting your credit card score to 101.
Ways To Improve Your Credit Score Infographic
Clean your report of credit
First of all, request a free report of your credit from AnnualCreditReport.com from TransUnion, Experian, and Equifax. Legally you are allowed to request a free credit report per year and you should get ready to print it or save it whenever you request for it. Once you get the report, examine it very properly and look for the late payments or unpaid bills. In order to keep a good credit score, you should make sure that your credit report should be clean without any flaws. The report will tell where you are lacking and what steps you need to take in order to improve it.
Pay your balance
FICO is a company which calculates the scores of the credit states that the amount you owe has a great impact on your credit score. If your paid amount is less than the credit you owe then you might be at risk and it can have a negative impact on your credit score. The ratio which is also known as the credit utilization should be proper so that you can keep your credit score in the level. If your amount paid is less than the credit you owe then you should immediately pay your balance to make your credit score good enough.
Pay two times in a month
You might think that paying your credit per month will keep your credit score good but you are not aware of the fact that creditors evaluate your credit once in a month and if you pay a large amount of bill once in a month then creditors will take this as an issue that you are misusing your credit. In order to avoid this chaos, always pay the amount twice in a month so that no confusion could take place.
Increase the limit of your credit
Sometimes it might be possible that you are not able to pay down your balance then you can increase the limit of your credit. By applying this approach, you will be able to balance your credit score. If you are in the same situation then you need not worry and immediately call your creditor in order to increase the limit of your credit. Suppose, you have reached the credit limit $1000 but you are not able to pay it right now then you can ask your creditor to increase your credit limit to $2000 so that your credit utilization rate will become half.
Open new account
Suppose your creditor is not increasing the credit limit of your account, and then another approach is to open a new account and get a new credit card issuer. This thing will also help you in the utilization of your credit rate. But, keep this thing in mind that opening too many accounts at the same time may drop you in risk as you may sound a spending freak and you may face the legal issue. So, if you are going to apply this approach then apply for one or two cards only in order to avoid any legal trouble.
Arrange excellent balances
Maybe your credit score is not good enough because you have so many debts pending. You cannot remove the mistakes from your credit score but you can control the damage you did in your credit score. Dummies.com will help you to understand how to negotiate the balance of debt so that you can improve your credit score. If you are not having enough balance to make the settlement then you can sell some of your stuff to make the settlement.
Be an authorized user
When none of the above suggestions work, then this is the last option left for you. Become an authorized user of someone else credit card. Well, not every person will allow you be the authorized user of their credit card so you must look for the person who is extremely close to you and keeps the money balanced.
