Many times you find out you have bad credit or low FICO scores at the absolute worst moment possible, typically when you are trying to get a loan for something that you desperately need or want!
I know that nothing feels worse then getting declined and it often leaves you wondering if there are any ways that you can raise credit score quickly in order to get yourself back on track and get the financing you need. The proven tips below will help you raise your credit scores.
Before we begin I want you to make sure you do not let yourself get suckered in by companies that claim to be able to increase your FICO score overnight, these companies are scams and will do nothing but take your money! With that said lets get onto three tips you can use to bump up your credit scores quickly and easily.
First Credit Repair Tip- First you can ask a friend with good credit to add you as an authorized user on one of their charge cards. Just make sure the account has no late payments and the balance is under 40% of the limit. This method will not give you a huge bump and is not as powerful as it used to be but it does still work for a slight increase.
Second Credit Repair Tip- A credit line increase on your charge cards can boost your FICO scores. What this does is decrease the percentage of the balance to limit ratio. Basically any time the balance of your cards goes over 45% of the limit, your scores start to drop so if you can increase the limit the ratio drops and your scores will increase. How much the score will increase will be different for each person.
Third Credit Repair Tip- Dispute credit inquiries that are listed on your credit report. Each time you get your scores checked there is an inquiry listed on your report. These inquires can drop your scores fast, they do come off themselves in a year and normally 2 points are added each time an inquiry falls off. To make them fall off even faster you can dispute the inquires with the credit bureaus, and the success rate is very high. Using a credit dispute letter this will quickly boost your scores up with very little effort!
One Final Tip About Fixing Your Credit Yourself
The process of Self Credit Repair is very involved and as much as I would like to, I just cannot explain it in complete detail in an article of this length.
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