Decrease Your Credit Utilization
One of the biggest things you can do to raise your credit score rapidly is to Decrease your credit utilization. Meaning you want to bring your balances down to less than 25%. Though less than 10% is even better.
For example if you have a trio of credit cards all with a thousand dollar limit. You’d want to keep the balances on them at less than $250 each. It is kind of like, if you do not need credit, they are happy to extend it to you. But if you do need it. It is almost impossible to find.
Keep Your Finances In Order
Keep your finances in such an order that it looks like you do not need any credit at all. Which means, low usage, low balances, and timely payments.
You can use your credit card throughout the month. Just be aware of when each cards billing cycle closes and reports to the bureaus. BE sure it pay it down before then and only use it again after it reports to the bureaus.
Increase Your Credit Limits
Another option to lower your credit card utilization is to request that your existing credit limits be raised. This will not be an option if you have only recently established credit or are doing so again in an attempt to rebuild. This option exists for those who have had a relationship with their card issuer for at least 6 months or more. Though the longer good history that you have the better in this case.
Sometimes requesting an increased credit line will result in an inquiry being placed on your report, but not always. You just have to ask and make sure.
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