How to Quickly Raise your Credit Score
There are some techniques that can be used to quickly raise your credit score. These techniques however may be different based on how much you need to raise your score.
One item that will always result in an increase in your score is getting the negative items removed from the report.
When you are working on improving your score the first thing you will want to do is get a copy of your credit report and then start working on getting the negative items removed. You can do this by writing letters to the credit reporting agencies – once you do this the creditor that reported the negative item has 30 days to provide information on if it is valid or not, if they don’t respond then it is removed – as you may guess you can get many items removed this way.
If you do not have negative items on your credit report there are still things you can do to improve your score.
One of the first things you can do to work on improving your score is to look at how much debt to available credit you have. If you have a $10,000 credit limit and are using $8,500 of it this will not help you. If you are however using 25% or 2,500 of the available limit you will have a better score. One thing you can do to influence your debt to available credit is call your credit card company and ask for an increase in your limit. Doing this will increase your available credit and typically lower your ratio. There are other ways you can get your ratio down as well – paying down the balance, or moving some of the balance to another account to bring your percentage of credit used down.
Another quick way of improving your score is to have someone with good credit and accounts that have been open for a long time add you as an authorized user. They can do this without giving you a card. This will give you the benefit of having their good credit history carry over to you.
Additional items to improve your credit score will be addressed in future articles.
