3 Easy Ways to Boost Your Credit Scores

Need a super quick boost to increase your credit scores? These three quick and easy tips will help you improve your credit scores rapidly.

Experian Boost 

Experian Boost is free, simply go to Experian and enroll for a free account. Once you are enrolled, you can access Experian Boost. At no charge, you may add your bank account information, utility, phone and cable bill payments. Experian Boost allows you to factor in the timely payments of your utilities and instantly improve your credit score. An updated Fico score is delivered in real time. 

Authorized User

You may ask a friend or family member to add you as an authorized user on a credit card account. The account holder may or may not provide you with a physical credit card. The account holder may remove you as an authorized user at any time. As an authorized user, you do not have the same account liabilities as a co-borrower, meaning you are not liable for the balance owed on the account. In addition, the account gets reported onto your credit report within 30 days, you credit scores will increase only if the payment history and credit utilization are both stable.

You may also purchase a credit trade line from a trade line company which is costly if you purchase more than credit line. Fair Isaac is aware of these piggy back companies and as a result, they upgraded their algorithms to make a for profit trade line company trade line less effective in enhancing your credit scores. In other words, it may not be a good idea in investing with a for profit trade line company. The purchased piggy back authorized user credit line is only temporary on your credit report; it is based on the terms and conditions of the purchase of the piggyback. 

Credit Card Utilization 

If you are utilizing your credit cards more than 35% a high balance will negatively impact your credit score. A simple example: A Capital  One account has a credit limit of $1000 if you max out the card to $900 which is 90% credit utilization, your credit score will go down. However, if your capital one credit card limit is $1000 and you utilize only 25% of the credit line which is $250 your credit score will go up. Maintaining a good payment history is very important for your credit trade lines. 

So now what? There is simply nothing wrong of obtaining a free thorough credit consultation with our company, in some cases, that is all a consumer or business owner needs.

For more information on how we can help you with your personal credit or business credit in North Miami Beach, Surfside FL, Bal Harbour and Sunny Isles please fill out the online contact form about your concerns or give us a call at 855.477-9007. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.