People have “hacks” in life for just about anything. One of those things is credit scores. If you are finding it difficult to reach certain milestones in your life, such as buying a car or purchasing your first home, it might be because your credit score is holding you back.
Here at Boost Credit 101, we believe there is hope for everyone when it comes to improving a credit score! Here are three techniques that you can begin with today.
- Try To Get Your Balance to $0 For Each Statement
One of the biggest percentages of your credit score is credit utilization. You might think that you are achieving a 0% utilization ratio if you pay your credit card balances on time every single month. However, that is not actually the case. When the credit bureaus receive a report from your credit card company, they typically receive it on an earlier date than the due date of your credit card. Essentially, that report will say that you have a balance left if you wait until the due date to pay or just a few days prior to the due date.
The idea here is that you want to pay your credit card off before your statement closes for the bureaus to receive a report with a $0 balance on it. If you can’t pay that early, try to pay it by the due date and don’t use that particular card again until the next billing cycle.
- Dispute Inaccurate Information
If you notice any mistakes on your credit card report after you look it over, you should make an effort to remove those mistakes. Your credit report should not surfer because there is inaccurate information on it. We often hear about on-time payments being flagged for late payments or negative information from seven more or more years ago that should have been deleted by now. Sometimes bureaus get different accounts confused with one another too.
To fix this information, you’ll need to get in touch with your credit bureau. They can help you remove any of this inaccurate information.
- Purchase Authorized Tradelines
Sometimes, all it comes down to is having another responsible party’s assistance to get you back on your feet once more. One of the best forms of assistance is authorized tradelines. With authorized tradelines, credit account holders sell their credit history at low prices so that you can become an authorized user on their accounts. However, you won’t have access to use their credit cards.
Essentially, authorized tradelines add good credit history to your credit history. You might still need to work to repair any negative marks on your report, though these authorized tradelines could improve your scores in just a few days! You don’t have to wait for your own accounts to age, as authorized tradelines add seasoned accounts to your credit history. Make sure to get in touch with us here at Boost Credit 101 if you have any further questions!