Your credit score is a very important number in your life. It can affect your ability to get a loan, your interest rate on a loan, and believe it or not even your ability to rent an apartment. That’s why it’s important to know how to raise your credit score and keep it as high as possible.
There are several things you can do to improve your credit score. One of the most important is to make sure you always pay your bills on time. You should also try to keep your credit utilization low, meaning you don’t borrow too much money compared to the amount of credit you have available. You can also improve your score by adding a positive history to your credit report, such as by paying off old debts or opening new credit accounts and using them responsibly.
Here are some tips on improving your credit score
Experian Boost
Experian has just come out with a new proprietary feature called Experian Boost where consumers can raise their scores just by giving certain data to Experian.
You would essentially upload some of your utility, telephone, and streaming service payments. Experian will then use your bank records to make sure that your paying your utilities on time. If you are, you will get instant credit score boost from Experian.
If you don’t mind telling them some of your personal financial data, this is a great way to raise your score very quickly.
Experian essentially gives you credit for paying some of your normal bills that you have on time.
Another added bonus when signing up for Experian Boost is that you can access your Experian credit report and FICO® score, and you will get credit monitoring and alerts.
If you are serious about keeping your credit score high, you should consider signing up for a credit monitoring service. This will keep track of your credit score for you and alert you if there are any changes. This is a great way to quickly identify any potential problems with your credit score before they have a chance to damage it.
Get added as an authorized user
If you know somebody close to you that has really good credit and has a credit card laying around is no balance, ask them if you can get added as an authorized user.
This is a great way to raise your credit score quickly, as authorized users are typically granted the same credit limit and history as the primary cardholder. If they have a high balance on the credit card with low utilization your score will raise practically overnight! Just make sure that you trust the person you’re asking to add you as an authorized user, as they will be responsible for your credit behavior.
Request a credit line increase
If you have existing cards that do not have high limits and you have been managing them in an extremely responsible manner, you just might be able to get a credit line increase. Getting a credit line increase on existing card will raise your score right away as long as you do not put more of a balance on the card. Raising your credit limit is a great way to show that you are responsible with your money, and it can help improve your credit score.
Keep an eye on your finances
To make sure you keep your credit score high and to manage your overall financial health you should always know where your finances lie. One of the best ways to make sure your credit score stays high is to review your finances regularly. This means tracking your spending and making sure you are not going over your budget. It also means staying on top of your credit utilization and making sure you are not borrowing too much money.
1. Make a budget and stick to it
2. Don’t spend more than you have
3. Invest money wisely
4. Stay organized
5. Make a plan
6. Review your finances regularly
5. Don’t overspend on your credit cards
6. Cut back on expensive hobbies or entertainment and try to allocate some of that money toward your credit card debt.
7. Pay as much of your credit card debt office quickly as you can and then make sure you do not use the card anymore for a while.
8. Balance your checkbook. In the digital age it seems a lot of people don’t balance your checkbook. You can do very easily in a spreadsheet.
We hope you get some value from these tips on raising your credit scores quickly as possible!
