Can Adding Tradelines of Credit Really Help Me As Much As I Need?

 

When it comes right down do it, what you believe will have a large, infinitely so, impact on the direction life takes. A lot of people call and ask if we have seasoned tradelines for sale  and wondering what the boost will be when they purchase them.Those are the rare ones. Most people think that buying a tradeline gives them a magical jump of 150 (or more) points on their reports no matter what is on there already. But if you want to look into adding trade lines on your credit report it’s best to know what you can expect. We won’t dispute that belief is a powerful thing.

Back in the late 50’s, a UCLA paper published the story about “Mr. Wright,” who had tumors the size of medium sized fruit in his neck, groin, and armpits. Everyone gave up hope, but then Mr. Wright’s doctor discovered that their hospital was one of ten nationwide that was taking part in an experimental cancer treatment called Krebiozen. The doc gave it to Mr. Wright the medication on a Friday, by Monday the tumors were nearly gone. Two months later the media reported that the ten trials showed the drug as ineffective, and the cancer returned. The doctor, believing Mr. Wright had experienced the placebo effect, told him that the Krebiozen he had been given was part of a bad batch, and invited him in to try the better, new Krebiozen. Mr. Wright did (he received an injection of distilled water), and the cancer disappeared. He did well for two months, but then the AMA came out and said Krebiozen was indeed no good, in fact it’s producers were indicted. Mr. Wright came back to the hospital and was dead two days later.

Now, having cancer is far, far different from putting a tradeline of credit on your reports, but this story does illustrate how powerful the mind is. So, if you buy a tradeline and believe, as Mr. Wright did, in the miracle of the boost, will you get as big of a jump?

How much does adding a trade line credit boost my score?

If you have a complete disaster of a credit report, excessive inquiries, collections, overusage on your credit cards (think 100+% utilization), missed payments, and perhaps other nasty things we aren’t mentioning, then coming in to buy trade lines will do about as much good as throwing a cup of water on blazing house. But, we’re sure you aren’t in this scenario, and even if you are, there are ways out. The road to credit hell can be a gentle, or quick if you go hogwild with your credit cards, road. The road out is just as gradual. Start paying down those credit cards, let those missed payments fade a bit into the past, and the inquiries will follow suit (after a year the inquiries have no effect on your credit, and should drop off after two years). But, if you are on the hunt for better credit and are looking into buying trade lines, well then of course you want to know what you’re buying, right? But this is where it gets a bit complicated. No one can tell you how much the scores will jump, because the only ones that know, are the Fair Isaac Corporation. Even getting the best tradelines for sale are impossible to predict. Even if you were to go to the very best (you might think) source, the corporation of tradelines, and type in “trade lines inc” you’ll only get a company that specializes in textiles, not trade lines. We have seen jumps up to 150 points. We’ve even seen one over 200 points in on special case, but you have to realize that the farther down your score is, the further it will jump. If you come to us with a 690 and expect a 150 point jump–we are always getting requests to put scores at 800–you may want to temper your expectations. We will have a good idea of where your score will get to, but we have to look at the reports, which means, you have to ask us.

How long does it take for credit score to Improve?

 

We talk a lot about the length of time it takes to get things off your credit report, of not falling into the trap of trying to chase after instant gratification–seriously, grab a candy bar it’ll do a similar trick–and we also talk about being realistic. Looking into ways to raise credit score 100 points overnight is really not part of actual reality. You may end up with a 100 point (or more) jump if you do things right, but it won’t be overnight. People call us all day every day asking how they can get into a better credit position, but it’s very simple, as far as how to improve your credit score goes anyway. When it comes down to credit, there are three things: negative data that can be removed, negative data that cannot be removed and adding positive data. These are the main overall, most general factors when it comes to your credit. So, first off, the negatives.

 

How can I fix my credit score?

 

When people talk about “fixing” their reports, it usually means removing the negatives, but it could also mean they have a number inside their heads that means great credit and that’s what they want and they want what they want despite not knowing how to get there. That’s fine. We get people who don’t know much about credit calling us all day long asking us “How long does it take to improve my credit score?” without any idea of how to do it. That’s why they are calling us. But the first step is always taking away the negatives. There are some negatives that cannot be removed, late payments, bankruptcy; and there are some that can, collections, chargeoffs. The secret is getting what you can removed, so you can be the best possible position to raise credit score profiles across all three bureaus. There are also certain parts of your reports that aren’t necessarily negative, but also affect your credit when overdone. We’re talking about inquiries here. We hear the common refrain: why do we get penalized for applying for credit? It’s a fair question, but we don’t exactly live in a society that demonstrates self control on a general level. If people could apply for credit without consequence, then they would apply, over and over and over. This would take up time, on everyone’s part, so making the inquiries a part of your score is a subtle way of seeing if you have self control enough to know that a decline means “Stop.”

 

Negative Marks:

As far as the negative marks that cannot be removed, inquiries, late payments, bankruptcies, and the like, the only thing that can help these is time. That is perhaps not what anyone wants to hear, but even if you have many late payments, these will stop affecting you so much after six months or so. Inquiries do not count against your score if over a year old and drop off completely after two years. Unfortunately, with bankruptcies, the answer to how long does it take to improve credit score is not so simple. After all, a BK is only a single negative mark, and you can certainly put your credit score back in order quickly if it is the only one. What you can get approved at that point is where it gets hazier, though we see plenty of people with credit card approvals after a BK. So, okay, let’s say you’ve got the negatives off, now it’s time to…

 

Buy credit lines

If you take a neutrally buoyant object, it will not move up until you add something that makes it positively buoyant. A credit report that has the negatives removed is like a neutrally buoyant object. You can see a report with a 560 not move at all when removing all collections, even to the point that the report is basically wiped clean. This is when you need to get positive data added, either through purchasing them or through getting approved for ones on your own. The problem is that it’s hard to get approvals when you don’t have anything on your credit. This is why buying seasoned credit lines is even a thing. Overall, the time it takes to improve a credit report can be anywhere from 2 weeks to 6 months (or longer). The temptation in trying to take shortcuts by purchasing another credit profile may be great, but it’s always better to improve the profile issued to you by the SS administration.

How You Can Quickly Improve Your Credit Score with Tradelines

improve-credit-score

Let’s see if this scenario sounds familiar. You haven’t looked at your credit for quite some time, and like getting a test you really don’t want to see the score to, you avoid it, hoping that by ignoring it, it will either go away or not matter, but as in all little problems, if you ignore them too long, they can become monsters that hinder your life. There are all sorts of resources online that tell you how to improve credit scores, but the question is how do you know which ones work, and how do you know which ones will work for you? Should you pay someone that has a business in how to improve credit scores, or do it yourself? In our experience, it’s the companies (like ourselves) who don’t charge you money to get a consultation that should be considered first. But if you’re asking yourself who can help improve my credit score, the best answer is always, you, and if not you, then someone you can trust. But how do you know who you can trust?

There are many companies out there who sell tradelines, many companies who will say they can remove negatives. All of these companies will be happy to take your money, but in our experience, the best way to see if a company is trustworthy is through a combination of reviews (do they have any?) and if they have contracts in place, and if so, is it an enforceable contract? Do they entice you with rainbow gold stories of how fast can your credit score improve? Anyone who says they can do it in a day or two is either onto something completely new that hasn’t been seen before, or they are lying. It is always our motto: be careful who you do business with. Promising the moon is one thing, promising that and taking your money is another, and that is an experience we see people run into often in the credit repair industry. So to the question: how quickly does credit score improve, anyone who is being realistic will give you a timeline of somewhere between 2 to 3 weeks, on average, though at times it can be done in as fast 10 days, and in rare cases, a few days quicker than this, but this requires a sort of “stars aligning” scenario.

But that should always be the question you ask first: how fast can your credit score improve? In this day and age where things are at our fingertips at a moment’s notice, where we can get things as fast as we can type, if you have a poor credit score, don’t you want to get it improved as soon as possible? Sometimes it is a fast process, and we can show people how to improve credit score quickly, but more often it is a matter of being realistic, and having patience in order to get it done the right way. Though if you have done the work, removed the negatives, or if you have a blank report from lack of use or being young, then adding a tradeline can cut a lot of time off your credit building journey. The standard time for getting a good score can be as long as 6 months to a year or more. Adding a tradeline can accomplish a great score in as little as two weeks!

Best and Fastest Way to Improve Credit Score

Perhaps the first thing you’re asking is: are they any shortcuts? Are there any tricks to improve credit score that we can impart? The answer to that, of course, is yes. But the first step is, as with most things, starting at the beginning, and that is knowing where exactly your credit scores sit, so we would recommend getting a login set up with Credit Karma. Is it the best site available? Not entirely, but it’s free, updates every 7 days, and offers the ability to see ⅔ of the 3 reports, Trans Union and Equifax. If you’re looking for how to improve credit score fast, this is the first step, know what you need to do.

If you require negatives to be cleaned off, we can help with that. This part of the process takes the longest, and some companies may offer you a CPN or other secondary credit number to use in lieu of your Social Security number.

These should be avoided, as they are selling you something that 9 times out of 10 will lead you to spending money on something that does not benefit you. You will have a great credit score on a number that you’ll have no idea if it’s created from thin air, or stolen from someone else, as they sometimes are from younger people.

If you have currently late, or very recently late, accounts, then you will need to get current, and if very recently missed payments, depending on what type of accounts they are, you may need to be patient while a bit of time goes by. If neither of these applies to you, then there are ways to improve credit score fast, and that will usually mean adding tradelines. Now you’re probably asking, how fast, exactly are we talking about. We have a guarantee that all our tradelines will post within 60 days, but you can improve credit score in 30 days, and as mentioned above, sometimes in as fast in as two weeks. Usually we say the average is two weeks, but it can be anywhere from 10-21 days.

Now, you may be wondering, are there simple ways to improve your score that don’t require anything too complicated? Yes. Credit is fairly simple once you see how it works. There are categories that contribute to your scores, including credit utilization, age of credit, number of accounts, negative marks, and inquiries. Having even one of these in sub-optimal ranges will lead to a bad credit score. At Boost Credit 101, we always offer you the option of a free consultation, so if you do get a login to Credit Karma or another site, or have access to your full report, and you don’t know what you’re looking at, we will always take the time to explain things, so in that sense you don’t have to pay to improve credit score. If you do decide to purchase tradelines from us, and they are a good fit–we will never sell you something that we don’t believe you will benefit from–then you may be able to improve your credit score by 100 points, or more!

I’ve got a tradeline, now what?

If you’ve taken care of everything and cleaned your credit reports, and now you’ve added a tradeline which is one of the easy ways to improve credit score, what do you do now with your great score? The best thing to do is to set yourself up for success in the future. A lot of people have their dreams of owning a home, purchasing that shiny car, and these are great goals to have, but those types of loans are installment loans. They have a set number of payments. They can’t be abused. It’s good to have them for different variety of credit, and adding to your total number of account–not to mention giving you a place to live and a way to get around–but if you want long-term success, you should think about getting a credit card to improve credit score. Getting approved for a credit card, and the best cases at least two, utilizing them monthly while paying off the balance, and at the very least keeping them consistently below a 10% utilization, this is the number one way to improve credit score.

Conclusion

Tradelines are the number one tool in boosting credit quickly. Traditional methods will not yield results even close to as quickly, and they remain one of the number one ways to improve credit score. When doing business with any company that sells them, and there are many, many to choose from, you will be navigating a potential minefield, so your best question to see if who you are talking to is legitimate: how quickly does credit improve with their services? Anyone who says they’ll do it cheaply and quickly (quicker than a week) should be approached very cautiously. Asking how does it take to improve credit score is your go-to barometer for discovering if someone is full of the proverbial cow dung. And a lot of people, either on Craigslist or even legitimate companies that sell these tradelines, should have google reviews, contracts in place, take the time to explain to you how their products will help you, what you can do with them, and make sure you understand fully what they guarantee, as anyone saying they are sure, or even going so far as to guarantee loans, or approvals, is trying to get your money based on enticing you with your own hopes and desires.

 

Using Your Tax Dollars to Improve Credit

Tax time is almost here, and lots of people are already preparing their returns. If you have poor credit, you may be thinking about using your tax refund to make improvements. A variety of credit repair strategies exist, so it can be difficult to decide how to approach the problem.  Below is some information to help you decide how to put your tax money to the best use.

Ways to Improve your Credit

The most common methods used to improve credit include professional credit repair, DIY strategies and investing in tradelines.

Professional Credit Repair

Professional credit repair companies offer to improve your credit for a fee. Some lawyers also provide credit repair services. Most reputable credit repair companies and lawyers begin by analyzing your credit report and looking for questionable entries, repetitive entries or other inconsistencies. The professional will analyze each of these issues and take steps to fix them.

Keep in mind that not all credit repair companies are reputable. Some will promise services they can’t deliver and/or use illegal tactics in an attempt to raise your credit score quickly. Some unethical credit repair companies have also been known to scam consumers by collecting a fee and then failing to provide promised services.

DIY Strategies

Instead of investing in credit repair, some people may decide to attempt to improve their credit without help in hopes of saving money. Some of the strategies you may use to improve your credit without professional help include:

  • Disputing duplicate and/or fraudulent entries on your credit report by contacting credit reporting agencies and creditors directly.
  • Using secured credit cards.
  • Applying for new credit or larger limits to reduce debt-to-income ratio.
  • Taking out new loans.
  • Paying down debts.
  • Pay all of your bills in full and on time.

Although these strategies can all improve your credit over time, it can take months or even years before you begin to see results.

Investing in Tradelines

Tradelines are active credit accounts with a long history of on-time payments. When you purchase a tradeline, the owner of the account adds you as an authorized user. Once the account has been added to your credit report, it can improve your score by raising your available credit, increasing the average age of your accounts and enhancing your payment history.

Making a Choice

You receive a tax refund only once each year, so it’s important to use it efficiently. Although each of the methods above can improve your credit when used properly, tradelines provide the quickest results. However, as with credit repair, it is important to note that tradelines are offered by both reputable and non-reputable sources. To avoid falling victim to a scam, make sure that you acquire tradelines from a trustworthy source.

7 Tips for Building New Credit

Whether you’ve relocated from another country or want to improve your current credit rating to build a more successful future, there are a number of things you can do. Here are seven of the top steps to take in order to build more solid credit and a sound financial foundation:

1. Timely Payments

The most important factor in building or improving credit is a habit of on-time payments. Timeliness counts for a full 35 percent of your credit score, so take it seriously and cultivate this important credit-boosting habit.

2. If You Are An Immigrant

Start by knowing that your credit rating from your home country will not follow you to the U.S. This can be good or bad, as a negative credit history can be left behind; however, if you had a positive credit history, it will not factor into your rating here. Credit history simply cannot be transferred across international boundaries.

A social security number is crucial to the process of establishing credit. When you seek employment in the U.S., you will be required to have a social security number. It is mandatory if you wish to build credit in a meaningful way, such as through purchasing a house or car, or applying for credit cards or personal loans.

3. Co-Signers and Authorized User History

One of the most effective ways to improve and build credit is by signing on with others who have positive credit. A spouse, partner, friend or business associate may be good candidates to ask. Having someone with good credit co-sign with you for a credit card or other loan greatly increases your chances of getting the loan. Have them add you as an authorized user to one or more of their existing accounts. From there, with responsible use of any credit you receive, your rating will rise naturally. You might also look into companies that sell authorized user histories through products called “tradelines,” which allow you to benefit from the positive credit histories of others.

4. Secured Credit Cards

A secured credit card is an account that requires a deposit for the amount you would like as your credit limit. The card is used somewhat like a debit card, but responsible use of this type of account will be reflected as positive action on your credit report.

5. Watch Your Credit Utilization Ratio

Credit utilization refers to the amount of available credit used on a credit card at any given time. Persons striving to build positive credit should keep this ratio at less than 30 percent at all times. Make only small to moderate purchases, and pay the balance on the card every month if possible.

6. Reduce Debt

Few things will drag down your credit rating and financial health faster than debt, so strive to carry as little as possible. That said, a home mortgage, car loan, student loan or other installment debt treated responsibly is good for your credit; just make sure to make all payments on time. Excessive revolving consumer debt like credit card debt can hurt your credit score and should be paid down as efficiently as possible.

7. Use Automated Payments

Take advantage of the perks of technology by automating any loan or credit card accounts that you do acquire. You can set the payment amount to any level you wish, from just the minimum to the entire statement balance each month. This will help you to avoid late fees and black marks on your credit report.

Building new credit can seem daunting, but success is possible. With patience, diligence and using these seven tips, you’ll soon be on your way to a positive financial future.

Big Limits: Everyone Wants Them

So, you just got a new credit card with great terms for balance transfers and low interest for purchases, but, your credit limit is only $500. Some people like having low credit limits on their cards so they cannot run up large bills. But, having a high credit limit gives you several advantages so long as you use your credit wisely.

If the amount of credit you use approaches your credit card limits, you will be penalized on your credit report. But, having a high credit card limit that you use no more than 50% of help maintain a better credit score.

How to Get a High-Limit Credit Card

There are two ways to obtain a high-limit credit card. The first way is to have a high income and low debt. If this is your credit profile, congratulations! you will likely be granted a premium credit card.

The other way to get a high-limit premium credit card is to earn it. Earning a high-limit card requires patience and a plan.

The Plan to Increase Your Credit Card Limits

Before you ask a lender to increase your credit card limit, you must prove to the lender that you handle credit responsibly. The best way to do this is to make sure you pay your credit card bills on time and for more than the minimum payment. (Only paying the minimum amount is very costly in interest payments and will take years to pay off).

Another way to show your credit worthiness is by lowering the amount of your credit utilization. Imagine you have a credit card with a $5,000 limit. You owe $4,000 on the card, meaning you are using 80% of your available credit. Your utilization of available credit is very high. Lenders prefer to see only about 10% of available credit used on a credit card. Lenders place a great deal of reliance on credit utilization as it makes up about 30% of your credit score – this has great significance when seeking a higher credit limit. So, one thing to do is transfer debt from a lower limit card to a higher limit card so that you have a lower amount of credit used.

Applying for a High-Limit Credit Card

People with excellent scores and high incomes may decide to apply for a high-limit credit card directly. These cards include:

  • Capital One Venture
  • Discover it
  • Chase Sapphire Preferred/Reserve
  • Gold Delta SkyMilescard

American Express has a card known as the Centurion Card. It has an annual fee of $2,500. AMEX is quite discrete about the benefits of this card but users have spilled some secrets.

Reports are that there is no official requirements for obtaining the Centurion Card, also known as the AMEX Black Card. Like other AMEX cards, there are two versions of the Centurion Card, one is for business and the other is for personal use. Rumors are that to be considered for this card, a business or an individual has to charge and pay off $450 thousand per year.

What Benefits Do I Get from a Higher Credit Card Limit?

If you have been careful in how you use credit and have used your existing credit properly you should ask for an increase in your credit card limit. One huge benefit is that your credit score will rise so long as you keep your credit use in line with responsible use. This will save you money from other lenders, help you get credit for an auto loan or a mortgage to buy a home.

Often, financial institutions offering high-limit credit cards have “rewards” attached to their use. Typically, these types of cards reward users with cash back. Other reward cards offer mileage points or reward points that are redeemable for travel and merchandise.

Make sure you check your credit score before applying for a card or an increased limit on a card you have. When you request a new card or a credit line increase, the financial institution immediately checks your credit score and credit report. This results in a short-term ding to your credit that disappears after a few months.

Sources:

https://www.wikihow.com/Get-a-Credit-Limit-Increase-on-a-Credit-Card

https://blog.credit.com/2015/05/5-ways-to-get-a-higher-credit-card-limit-116321/

https://www.investopedia.com/articles/investing/082115/should-you-increase-your-credit-card-limit.asp

https://www.investopedia.com/financial-edge/0212/6-benefits-to-increasing-your-credit-limit.aspx

https://thepointsguy.com/2015/10/amex-centurion-black-card/

One Thing You Can do RIGHT NOW to help your credit

TLDR: A simple step you can take TODAY, to help with your credit

Have you ever noticed how the necessities in life are some of the most soul-grindingly awful? Paying taxes, working a job we may not like or looking at our credit reports?

Credit is not a sexy thing, an exciting thing, even an interesting thing, but it’s as necessary as breathing in this country if you have financial goals and don’t have bucket loads of cash. You want to start a business? Loan. You want to buy a house? Loan. You want a car? Loan.

Most of the major accomplishments that go along with being a productive member of society involve credit. And credit is something that not many people know a whole lot about. It’s like those taxes, necessary, but no fun. And since that is a general sentiment, there just aren’t that many resources regarding it.

We want to share a few things that may be hindering your credit, and give you a major step you can take to get yourself on the road to recovery, or on the path to that great 760+ score, where you will get approved for the best rates, for whatever you want—with justifying income proof of course—hey, they aren’t gonna hand over a Ferrari just because you’re beautiful and have good scores now are they?

So what is it that keeps most of us from staying on top of our credit?

Fear — If asked to provide your credit score right now, would you be embarrassed? Would you have no idea? If so, most of this ignorance or embarrassment stems from not understanding how credit works, and that keeps a lot of people from having any idea what’s going on with their reports. Even if you get to a situation where you have great credit, do you, can you, maintain it?

Many think credit is something you get and then you have it, but credit is an ever-moving thing.

Perhaps the best analogy is going to the gym. If you spend six months, a year, working out hard and eating right, you’ll look great, but quit those workouts, stuff yourself with twinkies and cheetos for a month, and all those gains disappear like snow under the sun.

Credit is something that, while not needing constant attention, does require you to check in from time to time—to make sure no one is abusing it, to make sure something hasn’t popped up that will cause problems down the line.

We know, we know, you’re wondering when the sales pitch is coming in. Buy credit repair! Buy authorized user tradelines to boost your score! Buy what we are selling! No. We only want to share this simple tip.

The best plans have specific action items paired with a mental practice of non-attachment to outcome.

This way you won’t get pissed when you spend a bunch of money on something that doesn’t do what you think it will do, or what you’re told it will do. But you know what…you lose money and it’s almost a guarantee that you don’t make that mistake again, and that anger or disappointment will lead you to dig deeper. You will understand more. You will develop confidence.

The first part of the plan that you can take actual action on: sign up for Credit Karma. (Or some monitoring website)

There are better sites, but Credit Karma is free, and it updates weekly. This site and other monitoring services provide notification if you have new activity on your report. If there is an activity that you don’t recognize, you NEED to know about it as soon as possible.

THAT’S IT!

If you want to know more in-depth about how to get your credit in great shape, please reach out to us.

We don’t charge anything for a consultation. It literally cannot hurt and you will come away with a roadmap of what you need to do to set yourself either on the path of recovery or developing that stellar score in the 700 and 800 range and beyond.

And Remember the non-negotiables of great credit: Pay your bills on time, keep utilization under 10% (or pay off card statements monthly).

5 Secret Ways to Boost Your Credit Score

There are many ways to improve credit score, but sometimes you need to think outside of the box. While some of these methods may not gain FICO’s nod of approval, they can help repair your credit score and get you in good standing for future purchases.

Make Multiple Payments Throughout the Month

Rather than pay your monthly balance all at once, you can pay in installments every week or so. How does it work? If you pay expenses with your credit card and pay off the balance at the end of each week, you minimize the amount of credit used at once. This lowers the balance on your statement date, and the lower the balance, the more favorable your credit score.

One thing to note is that some credit card issuers limit the number of payments you can make each month. Most will accept up to three payments, but you’ll first want to confirm with your company if you plan to pay weekly or more frequently.

Pay for Deletion

If your account has been forwarded to a collection agency, you may be able to clear the debt from future credit reports by simply paying it off. Many collectors will agree to this type of arrangement if you negotiate. Make sure to obtain a written contract from the company that outlines their promise to erase the debt and refrain from reporting it to the three major credit bureaus. Keep in mind that you’ll most likely have to make a lump sum payment; however, many agencies will settle for an amount less than your original balance. While this method isn’t guaranteed, it can pay off if you talk to the right person.

Report a Lost Card

This strategy should be more of a last resort, but is one of the quickest ways to improve credit score. When you notify your creditor that your card has been stolen, they will likely close the delinquent account and open a new one. This shifts your credit history to the new account, original open date and all. Your future credit reports will then show two positive and nicely aged credit lines.

Dispute Debts Away

Even small unpaid charges such as an emergency plumbing bill, parking ticket, or data overage charge on a phone you no longer use can harm your credit score. More often than not, you can take these up with the credit bureaus and dismiss them. How? Most businesses won’t expend the time and effort to sort through old debts, especially smaller ones, and agree to remove the bad marks from your credit report. While disputing may not clear all your debts, it will likely get rid of some of them.

Add Accounts Not Currently Reported

A smart and honest way to boost your credit score is to add positive accounts to your credit report. Only a fraction of your monthly expenses actually contribute to your credit score. Your credit report might not include bills such as electricity, water, phone, internet, and other services you use every day. Why let all your on-time payments go unnoticed? If you contact these companies, there’s a good chance they’ll agree to report your payments to the credit bureaus, thereby boosting your credit score.

5 Ways to Improve Credit Score You Might Not Know About

“How to raise my credit score?” Just about everyone is looking for answers to this question. If you’ve looked into it before, you probably already know the expected ways to boost your credit score, such as paying more than the minimum and keeping debt below 30% of your credit limit. However, you might not have heard of some of these lesser-known ways of increasing your credit score; use these five tips to improve credit score fast:

1. Pay Largest Debts with Highest Interest Rates First

The more of your available credit is being used on a credit card, the worse the damage to your current credit score. When you have numerous debts, it can seem logical to pay off the smaller ones in full first; however, a goal of boosting credit score rapidly benefits more from paying down the largest debts with the lowest amount of credit limit currently available.

2. Pay Even Before Your Statement Comes Out

The total amount you owe makes up 30 percent of your credit score. Because of this, paying as much of the bill as possible before your statement can help your score tremendously. Your most recent statement date balance is the amount typically reported to credit bureaus, so the lower this number is at this time, the better your credit score. Find out when your card balance for each card gets reported, and try to pay something before this date. Get into the habit of making multiple payments throughout the month as your finances allow.

3. Have Positive Accounts Reported

Any account for which you are in good standing can help to raise your credit score and offset “black marks” in other accounts. Not all accounts are automatically reported, but some account holders will report your account as a service if you ask them to. If you have a good history with your cell phone carrier, cable TV company, internet provider or utility companies, call them and ask if they will report to the credit bureaus on your behalf.

4. Try for the “Goodwill Deletion”

If you’ve made just one or two late payments with a provider, you might be able to get these black marks removed from your credit report. Simply call the lender and apologize for the oversights, promising that you won’t do it again. Many lenders will remove minor infractions as a courtesy.

5. Get a Credit Line Increase — Then Don’t Use It

Good “credit utilization ratio” is also key to a good credit score. The higher the available balance on a credit card, the better your credit looks. A balance of $300 on a credit card with a $400 limit can hurt your credit utilization ratio, while a $300 balance on a limit of $1,000 looks much better. Call and ask your credit card companies for a credit line increase to improve your credit utilization ratio — but do not use it.

A high credit score is crucial for getting a home mortgage, financing a car or getting a loan for a business. Use these five lesser-known tips for raising your credit score and making yourself more appealing to lenders.

Creative Ways To Boost Your Credit Score Fast

Most people are familiar with common methods of raising credit scores, such as paying down debts and avoiding missed payments. However, when you want to raise your credit score fast, these methods alone won’t do the job. Below are some creative strategies you can use to boost your credit score as quickly as possible.

1. Dispute entries on your credit report.

Under the Fair Credit Reporting Act, you have the right to dispute entries on your credit report that you believe are inaccurate or incomplete. In most cases, the credit reporting bureaus must investigate any disputes you file within 30 days of receipt. Thus, if your credit report contains negative entries that you believe are unfair, outdated, incomplete or completely inaccurate, it is in your best interest to dispute them.

To dispute information on your credit report, you must send a written letter to the credit reporting companies that explains your position. You should also include any documents you may have that support your claim. You should also send a dispute letter to the organization that is reporting the information in question to the credit bureaus. If your dispute is found to be valid, the information in question must be removed from your credit report, and your score will increase.

2. Ask for a good-will adjustment.

In some cases, it may be possible to have negative information removed from your credit report even if the information is accurate. Forbes recommends discussing your situation with creditors in an attempt to convince them to stop reporting negative information. For example, if you made a few late payments on a credit account because of a medical emergency but your account is now current, the creditor may be willing to let you slide. Likewise, if you have an account in collections, the creditor may be willing to remove the account if you offer to pay the balance in full. However, if you decide to negotiate with a creditor, be sure to ask the creditor to put the agreement in writing before you make any payments.

3. Purchase seasoned/authorized user tradelines.

Another practice that may increase your credit score very quickly involves purchasing a seasoned tradeline, which is an active credit account with a long, spotless payment history. Adding such an account to your credit report can raise your credit score by improving your available credit, the average age of your accounts, your payment history and more.

To add a seasoned tradeline, the owner of the tradeline must list you as an authorized user on the account. Many different online brokers offer to connect owners of seasoned tradelines with consumers in need for a fee. However, you can also accomplish the same goal if you have a friend or family member with a seasoned tradeline who is willing to list you as an authorized user for free. Regardless of how you choose to acquire a tradeline, make sure that you trust the tradeline’s source. Credit scams are a serious concern, and not all tradeline brokers are reputable. Likewise, if you ask a family member or friend to help out, make sure the credit account you are adding is in good standing.