– Stuart Becker
This happens to be a trendy topic across the country. More and more people are looking for better education and information about their credit, how it’s rated, and how to bring up their credit score. Here are five different ways that can help you raise your credit score that is fast, easy, and effective.
- Get added on a family member’s credit card account as a Co-Signer. Getting added is huge, what happens is that you will inherit all of the good standing credit from the time they opened the card, which will immediately impact your personal credit rating and have no negative effect on theirs.
- Get your balances below 30%. For example, if you have a credit card and the limit is $1,000, you want to make sure your current outstanding balance does not exceed $300, which is equal to
30%. Paying down your debt to 30% or below will immediately impact your credit and raise your credit score.
- Get derogatory items permanently deleted from your credit report. Any derogatory item on your credit report is going to play a significant role in your credit score. Having those items
permanently removed from your credit report will immediately raise your credit score and help you accomplish what you want to do financially.
- Pay your bills on time. I know this sounds very simple, but you would be surprised how many people are unable to do it. I recommend utilizing bill pay with your financial institution or a
calendar so you know when each bill is due and make sure it’s paid on time. Paying your bills on time will help raise your credit score.
- Stop having your credit ran. The more inquiries you have on your credit score, the further your credit score will drop. Minimizing inquiries will help raise your credit score as it shows the credit bureaus you are not looking to borrow money from any financial institution that could potentially put you in a higher risk bracket.
To refinance at today’s amazing rates or to learn more about purchasing a home, Contact Stanford Mortgage today!