How Can I Raise My Credit Score 50 Points Fast!

 Bonus Tips!

IF YOU WOULD LIKE TO SEE THE YOUTUBE VIDEO TO THIS ARTICLE CLICK ON THE IMAGE ABOVE.

Disclaimer, please understand that I am giving you some tips and ideas, but you should seek professional advice if you so be it. These tips to raised my score significantly and can help you as well. If you put it into practice. 

If you try some of these tips they can help you to increase your credit score, but there are times patience and consistency is key!

It may be difficult for some and easy for others, but just because it’s hard, doesn’t mean it isn’t worth doing. Your financial well-being is worth it. If you’re looking to raise your credit score by 50 points or more, here’s a few tips and tricks that can help. If you are a more visual person I would suggest to click on the video thumbnail and check out my video on You Tube. (Don’t forget to click like and subscribe!)

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1. First thing is first, Get a copy of your credit report now!

This step is a no-brainer, but it’s also absolutely necessary.

‘Did I just TELL YOU to get a copy of YOUR credit report?!?! Uh Ma’am I did! 

You want to do this to make sure you have no errors, fradulent items…items that does NOT belong on your report. You want to make sure all these items are correct. I suggest printing your credit report out and going through it with a fine tooth comb! Line by line!

Any items that are not correct, go ahead and start the process of disputing it. Don’t forget to look into collection accounts, foreclosures and bankruptcies!

“BUT I DON’T WANT TO SPEND MONEY ON A CREDIT REPORT!” 

I understand and agree with you, go ahead and click on this link www.annualcreditreport.com to get a free copy of your credit report. You will have to follow the steps to get your report.

You will get a copy of your credit report from the three major bureaus, Transunion, Equifax and Experian

“BUT MY SCORE WILL BE AFFECTED WHEN I PULL MY REPORT!” No it won’t, since you are pulling your report directly and you are allowed to pull it once a year.

Again, to order a free copy of your credit report, just visit www.AnnualCreditReport.com.

2. Automate Your Payments

There are five different categories of information that the FICO corporation uses to create your credit score. Of those five, the most important one is your payment history. It makes up a 35% of your total score. If you keep forgeting to make your payments you are sabotaging your credit. Let me tell you! Have you read automatic millionaire? Either way, it’s best to automate your payments, I suggest doing it online Save a stamp, save a tree and save your sanity!

Make sure to follow your budget so that you always have the funds in your account when your bill is automatically paid through your bank account.

Stay consistent keeping tracking of your payment history. If you want to increase your score, keep a pattern of good payment history. When it comes to your credit score, improving your payment history is a bit of a long game. Keep in mind most information stays on your report for seven years, so it’ll take awhile for old bad items to drop off.

Don’t worry too much about that, as the old items will soon be gone!

3. Tackle Your Debt!

When it comes to fixing your credit score, payment history and amount owed are the two categories making up 65 percent of your FICO Score calculation.

Paying down your debt is a very important part of the puzzle, and can also feel like one of the most overwhelming obstacles to good credit.

At minimum, you should be making the minimum payments on your credit cards and other debts. It will keep you afloat and will not affect your credit score dramatically as would falling behind and drown in late payments.

Once you get comfortable with your debt repayment plan, you can start getting more aggressive. Remember, the faster you pay down your debt, the faster you’ll see your score rise and continue to rise once you develop this pattern and consistency.

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4. Use your credit cards responsibly

As you pay down your debt, it’s important that you try and use your remaining credit cards in a responsble way.

Basically, never spend money on your card that you don’t already have in your bank account. So long as you always have the money to pay off your balance you’ll never be in danger of racking up additional debt.  

Keep your redit utilization ratio at 30%. 10% is even better. This means that if your credit limit is $2000, your spending would ideally be between $200 and $600 per month. Try to not max out your cards and your goal for the future is the keep your balances as low as possible.

The great thing about your credit utilization ratio is that, as old credit card debt is paid off, you should start to see those old cards slip to levels where your score will be positively affected.

 

 

Bonus Tips!

• Never ever cancel your credit cards, at least the ones you had for a very long time. Canceling the credit cards can actually lowers your credit score.
• Call your credit card companies and ask them to raise your credit limits. This is another way to try and improve your credit utilization ratio. Instead of only paying down the balances you already have, you could contact your credit card company and request that they raise your total credit limit. You can also try doing this online at your credit card company websites.

Don’t let your bad credit make you feel bad. Instead, get serious about fixing it. Raising your credit score 50 points or more is totally doable–even if won’t happen overnight.