 | How can you raise a credit score quickly by about 50 pts. I know paying bills on time is the way to go but if?a person has only 1 payment that is reportable then it could take a long time to raise scores. suggestions please. Also what is the scale for credit rating? |
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Question: How can you raise a credit score quickly by about 50 pts. I know paying bills on time is the way to go but if?a person has only 1 payment that is reportable then it could take a long time to raise scores. suggestions please. Also what is the scale for credit rating?
Answer: -This is one of the faster ways, but it will not happen overnight. If you have a credit card, make more than the monthly payments, but not enough to pay off the entire bill (for example, if you have a credit card that has a limit of 3000 and a minimum payment of $50 dollars a month, make payments of $100-$150 per month). At the end of about 6 months, pay off the entire balance. Then repeat the process. Don't max out your credit card. Keep money available if you need it. Maxing out credit cards and making minimum payments tells credit card companies that you are living off your cards. Follow these instructions and your credit score will rise quickly. Also, call one of the 3 major credit agencies and put a "block" on your credit history. This will mean that in order for someone to check your credit, they have to have your permission. A main reason a person has good instead of great credit is because many companies/people check your credit history without your knowledge. Every check of your credit reduces your score by 2 points per check. Hope this helps. -Can you obtain a new credit card? If so, use it to pay your utility bills each month and then just use the money that was set aside for the utility bills to pay off the balance of the credit card each month. However, I'm really not sure if this would raise it that much in a short time. I suggest asking a local bank manager. -Get a trusted family or friend with good credit to add you to there credit cards. If they give you a card of your own their credit limit and amount owed will transfer to your credit report ultimatelly boosting your credit score.
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