Hi guys, Welcome to the Advanced Video Search Engine, and you are watching How to RAISE Your Credit Score Quickly (Guaranteed!). That video is uploaded by Financial Fairytales at 2024-07-04T09:03:17-07:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [r3KjbYh74yE]
| Name | How to RAISE Your Credit Score Quickly (Guaranteed!) |
| Video Uploader | Video From Financial Fairytales |
| Upload Date | This Video Uploaded At 04-07-2024 16:03:17 |
| Video Discription | WHAT USUALLY LOWERS YOUR SCORE: -One, you don’t have ENOUGH credit. If you’re new to this, or if you’ve barely had any time to open up a credit card and make on-time payments, then most likely - your score isn’t high because there’s not enough history to your account. -Second, maybe you have a late payment This is something that will stay on your credit report for 7 years. -Third, check to see if you have any late accounts. This is what happens when you're more than 180 days on a payment, so your lender charges the amount to a third party company. -Fourth, check to see if you have any high balances or maxed out credit lines…. This is when you borrow or charge the maximum you’re allowed, or very close to it…when this happens, lenders see you as a bigger liability. -Fifth, check to see if there are any foreclosures on your credit report. Sometimes, marks like this are accidentally left on longer than they should - OR, people might have misinformation on there - all of which would impact your score. SOLUTIONS: ONE: If you DON’T have enough credit, and you want to increase your score IMMEDIATELY…the fastest tip is to become what’s called “an authorized user.” TWO: Pay off your balances so that your utilization is below 10% I’d say - for MOST people - this would make the biggest difference in their score in the shortest amount of time possible. OR - OPENING UP ANOTHER CREDIT CARD or increasing your credit limit will solve that problem. THREE: TRY EXPERIAN BOOST. Experian Boost is a totally free service that links to your accounts, and then tracks on-time phone and utility payments by adding them as a positive trade-in to your Experian credit file. Doing this will give you: more positive credit history and more on-time payments to help boost up your score. FOUR: LATE PAYMENTS on your account! It’s always worth it to TRY to negotiate the terms of the debt and see if they can adjust your account status back to current. This means you can reach out to the lender and, if you’re having a difficult time making payments, see if you can work out a payment plan. Or, work some type of installment loan in exchange for bringing the account current and making a payment. FIFTH: DON’T CLOSE OUT ANY ACCOUNTS. Because your credit score is calculated by the AVERAGE AGE of your credit history - that STARTS FROM from the age of your oldest account. BUT, IF YOU CLOSE that oldest account because “you don’t use that card anymore” - what you’re really doing is ERASING your oldest trade line, and when that happens - eventually, the average length of your credit history will drop - and when that happens, it’ll look as though you have a much newer account then you actually do, and that will lower your score. r3KjbYh74yE |
| Category | People & Blogs |
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