How to raise your credit score fast
How To Raise Your Credit Score 50 Points FAST
25 October 2009 One Comment
Imagine you found the house you’ve always dreamed of, and you can afford it today. The only problem is, you need to raise credit score fast by 50 to 100 points, otherwise someone else will get the deal. The sellers have agreed to wait (after all they couldn’t sell for 2 years). But they will only wait for 30 days. Your mortgage broker tells you a 50 point increase is needed at the very least, 100 points is a sure shot.
Normally it would take at least 45 days before you could raise your credit score. There is very little you can accomplish quickly disputing late payments, so we put those aside for now.
Debt collection accounts, no matter how small or old, have a very negative impact on your credit score. Removing them from your credit report will improve the credit score fast. Contact collection agencies and offer to pay off if they remove collections from your credit report. Known as Pay for Delete, (you
pay, they delete), this procedure can raise credit score 50 points at least. Depending on other factors, like credit account types you have, how old collection accounts are and for how much, you can even see an over 100 point raise.
Revolving debt utilization rate
This percentage ratio between balance and credit limit can be very useful in raising your credit scores. Bringing it under 9% is one of the fastest ways to a higher score. You can raise it fast, combining a few things,
- paying off your revolving debt down, which is quite obvious
- requesting credit line increase from the creditors
- carrying a very small balance ($5 to $10) on one or two credit cards
With these credit repair tips, will you be able to raise credit score 50 – 100 points? Most definitely. In 30 days? Very likely – but don’t wait until you find the house you always wanted, only to see it gone because you are not qualified. Remember that debt validation and credit dispute also works, but often takes longer.Source: www.fightcredit.com