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Whether you’re a young person who doesn’t have a long history of credit or you’ve gone for a long period in your life without the thought of building credit, now might be the time to consider building credit. Here at Boost Credit 101, we’re all about providing information to make consumers as creditworthy as they can be. As one of the premier online tradeline suppliers, we have a deep well of resources and information regarding credit and how you should approach it for the most benefit. There are a few ways in which you can boost your credit from scratch.…

If you’re looking to become an authorized user on someone else’s credit card, there are many things that you need to consider. Of course, doing it the RIGHT way can be a very valuable strategy if you want to build credit. However, not everyone that becomes an authorized user on an account will benefit from it in the same way. In some cases, becoming an authorized user on someone’s account won’t have any impact at all, positive or negative. There are also cases in which becoming an authorized user on someone else’s account could have a negative impact on your…

When it comes to collections accounts, you may have heard of an important date known as “Date of Last Activity” or (DLA). You may have been told not to ever make payments on a collections account, as the action of doing so could change the account’s DLA. In the case that the DLA changes, the clock essentially resets on the seven-year period in which your credit report will expel the collections accounts. However, in all reality, debt collectors do not have the ability to change the DLA. The credit bureaus are the only ones that have the power to do…

The world of credit can be a difficult one to navigate for many. Even if you aren’t new to the world of credit, it can sometimes feel impossible to discern credit myths from credit facts. Understanding how credit works is the best way to build AND maintain a positive credit score. Come with us as we explore some of the top 3 credit myths so you can take the smarter approach to build your credit. Myth #1 - You Must Carry a Balance To Build Credit This myth is 100% false and we’re not totally sure where it came from.…

Your credit score is one of the most important elements in your financial toolbelt. Whether you are applying for a car loan, apartment lease, mortgage, or credit card, having a good score is crucial. There is no doubt that your credit score can affect your life in many ways. Anyone who has had the experience of being denied something because of a poor credit score knows the motivation behind working to improve it. One of the best ways (besides tradelines) to improve your credit score is through the use of credit cards. Of course, you might be wondering when your…

If you have a derogatory mark on your credit reports, such as a late payment or collections, your credit report can suffer some serious damage. One question that people often ask us here at Boost Credit 101 is: Am I able to remove derogatory items from my credit report, and if so, how? In this article, we’re going to explore the ways in which you can remove derogatory marks and get your credit score back on the positive side.   What Is a Derogatory Mark? When a mark is deemed “derogatory,” it means that it is a negative mark. Any…

One popular way to improve a bad credit situation is the use of tradelines. Of course, using tradelines effectively means knowing how tradelines can impact your credit score overall. Many people unfortunately make mistakes when it comes to purchasing tradelines. To help you avoid making those mistakes altogether, we will look at a few things you should keep in mind.   Not Checking Your Credit Report Lenders make decisions for you based on your credit score, which is a high-level number that determines your creditworthiness. Of course, if you don’t have any context, knowing what has made an impact on…

People are often looking for tricks and “hacks” that can help them boost their credit scores. Unfortunately, the Internet is a dangerous place filled with misinformation regarding credit. Today, we’re going to be taking you through the answer to the question of: Can I Boost My Credit Score If I Make Multiple Payments Each Month? Continue reading to learn more!   Should I Make Multiple Payments Each Month? When trying to boost their credit scores, many people believe that they can make multiple payments in a single month to pay off more of the balance. [caption id="attachment_2977" align="aligncenter" width="1023"] Can…

People often vilify credit cards because they have such high interest rates. When it comes to consumers who aren’t able to pay off their balance each month, these interest rates can end up being extremely costly. In this article, we’re going to go through a few ways in which you can have a good experience as a credit card user.   Understanding APR Compared to other forms of credit, credit cards have generally higher APRs. Even if you have a good credit score, the APR can end up being terrifyingly high. When you start slipping into credit card debt, that…

One of the best ways to find out if you have incorrect information on your credit report is by getting a copy of your credit report to analyze it. Through the three major credit bureaus, you are allowed to get a credit report once every 12 months. One of the bright sides of the COVID-19 pandemic is that CRAs have made it much easier to analyze your credit score more often, as you are allowed to check your credit report once each week up until April 20, 2022. If you see negative information on your credit report, it is up…