How can I raise my Credit Score?
Raising Your Own Credit
Score..
1 Pay Down Your Existing Credit Cards
to about 30% of the available balance. You don't have to pay down all cards. If
you have 3 cards, with a total available balance of $6k, you can pay off some of
the higher interest rate cards, while leaving a larger per card balance on a
lower rate card. Credit Scoring does not look at each card individually, it
looks at Total Available Revolving Credit.
2 Don't Close Credit Cards
Randomly. These days a lot of folks are looking at paying off cards and getting
out of Debt. Unfortunately, Revolving Debt is a major part of a Credit Score.
Also, since Scoring looks at total Revolving Debt, rather than individual cards,
if you have $6k in total available balance, pay off a card that had a $2k limit,
and close it .. you have maxed out on available debt at $4k. Your Score plummets
until you pay off the next one. Unless it's an annual fee card, it costs you
nothing to hold, and could come in handy for a tank of gas every now and then.
Also, it matters that many times Credit Cards are the oldest trade lines on a
Credit Report.
3 If you regularly max out a card for Business, and get
weekly reimbursements, pay the card multiple times a month. This keeps your
balance down, and your Score up. Pay it on line weekly. we have a Client who
maxed out a $10k card every month, and this really worked for
him.
4 Every Loan you have reports to the Bureau at least a month
after your Due Date. If you plan a major purchase, plan it a couple of months
ahead so you can get your Revolving Debt in order. It really has a major impact
on a Credit Score.
5 Clean up the Junk. As the years go by, more and
more Clutter appears on your reports, whether by data error, ID theft, Divorce,
or Personal Financial Disaster. CrediClear Financial can help with the Cleanup,
whatever the cause. To See what can be done, go to the Reply
Samples page, where you can see actual
results!
6 CD Loans.. Each Bank has a specific dollar amount and term that is the minimum for reporting loans to the Credit Bureaus, reporting costs them, so they try to save on fees. If you have the funds, you can open a certificate of deposit for an amount just over the minimum reporting amount, and borrow against it. It does cost a few dollars in interest, but you get another account reporting on your bureau report, raising your score. Loans that have a duration of at least 6 months help your score, so do it in 6 month increments, pay off in 6, 12 or 18 months.
No Interest Charges or Carrying Fees!
That's CCFG's Total Fee! Limited Time Offer!
In 2008 this was a deal at $795,
and we still have no per item charges!
This is our Bailout Special, a far better deal than
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Get your own Stimulus Package started today!
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