Are you in a hurry to raise your credit score fast? Your credit score is nothing more than a mathematical formula actually. There are a lot of factors which can affect your credit score but there are also some ways to raise your credit score fast.
There are several credit reporting firms and they can come up with a variety of credit scores depending on your creditworthiness. Therefore, don’t fret if you chance upon these varying rates. Here are a few important things to keep in mind on how to raise your credit score fast.
Secure a copy of your credit report. It is usually given for free. Most online credit companies do offer a free credit report if you ask for it. Check if there are pertinent errors. You see, the assessment of your creditworthiness may contain errors too and they can terribly affect your credit score. Figure out if some late payments are recorded when in fact you haven’t incurred any.
Settle any existing debt. The fast improvement of your credit score can be done by paying off your current debts. Don’t close your present credit cards but make sure that you have paid for your debts. The longer span of time that you have your credit card, the more chances of raising your credit score.
Be in control of your shopping for credit cards or loans. In every application that you make, the credit score gets affected. I would not advise you to take out more than 1 credit card or loan unless you are sure you can repay on time.
Getting sub prime merchandise card is another good way to increase your credit score fast. These merchandise cards are usually keep track by credit bureau. It is important to do some research and find out which ones are reported to the credit bureau and have the lowest interest rates.
Don’t close old accounts. Old banking accounts actually have more creditability than new accounts since they have a history which credit bureaus go by. New accounts take time to increase your credit score and in my opinion are not worth it unless absolutely necessary.
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