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Consumers are constantly looking for ways to boost their credit scores, though there are many “hacks” out there that don’t actually do much to boost scores. In this article, we want to shed some light on a few credit boosting strategies so you can figure out which ones are legitimate and which ones are a waste of time. Boosting Your Credit Score By Paying Off Loans Early [caption id="attachment_2801" align="aligncenter" width="1023"] Exploring Credit Boosting Strategies[/caption] While it might feel counterintuitive to many, you cannot earn more points on your credit score by paying off your loans early. Nothing gets added…

  Your credit utilization ratio is one of the most important factors you must understand when it comes to your credit. In short, your credit utilization ratio is the debt that you owe to the total credit limit of every revolving account on your report. When it comes to your credit report, your credit utilization ratio can have a major impact. In fact, many aren’t aware that their credit utilization ratio makes up a whopping 30% of their credit score. In essence, if you have a high credit utilization ratio overall, it can drag your credit report down in the…