How To Raise Credit Scores Fast

How To raise credit scores fast?  To learn how to raise credit scores fast get a copy of your credit reports from sites like AnnualCreditReport.com. Then read the tips below to learn how to raise credit scores fast.

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1. Dispute any errors you notice. Mistakes happen. You can dispute errors online through TransUnion, Equifax and Experian. (If you don’t want to dispute you can pay a reputable company) As many as 80% of credit reports have an error on the reported credit tradelines.

2. Negotiate with your creditors. You can always ask your creditors to “erase” debt or any account that went to collection. Some write a so called “good will letter” a letter offering to pay the remaining balance or a percentage if the creditor will report the account as “paid as agreed” or maybe even remove it altogether (this is known as a pay to delete). (Note: Be sure you get the creditors agreement in writing before you make any payment to them.

3. Make sure your correct credit limits are reported to the credit bureaus.

4. Get yourself a credit card. Having one or a pieces of plastic can help your score – but only if used regularly and paid on time.

5. Become an authorized user. Ask a relative or good friend if you can be added to his or her existing credit card account. Tell them you don’t need the card. You may hear the word “no” a lot. But you might also luck out, If you do get added as an authorized user the years of perfect payment history and the credit limit get placed in your credit files. If you can’t get a relative who has good credit to add you, you can buy tradelines for sale from IZM Credit Services and be added to their authorized user tradelines.

6. Under-use your credit cards. Yes, we did just tell you to use credit when possible. But don’t use it to pay for everything . Your “credit utilization ratio” should be no more than 30% and even less if possible. A reported credit utilization of 10% or less will maximize your credit scores.

For example, your credit card has a $10,000 limit and you charge a grand a month. That would be fine, the main thing is to have the limit which is reported to the credit bureaus be under 10% for you to achieve the highest credit scores possible. To do this pay down balances on the payment date or at least one day before your account closing date.

7. Don’t close old credit accounts, the old credit tradelines which are called seasoned tradelines add to the average account age on your credit files

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High Interest Credit Cards

High interest credit cards are very easy to get but, the interest rate only matters if you carry balances your balances. People who have had judgments, bankruptcies or have a bad credit rating are most likely to apply for high interest credit cards. Many low interest credit card issuers will allow you to transfer balances from higher interest credit cards but you must have a good credit rating. One of The most important things about balance transfers is the amount of money it will potentially save you over time if you have a high interest credit card/s that you carry a balance on.

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Be aware some credit card companies will try multiple methods to get you signed up and then if your late on a payment for any reason, they charge large fees. This could happen even if your credit card payment is only one or two days late. Those considering applying for a major high interest credit card to establish or re-establish new credit should always consider the total price they will pay. Even those who don't qualify for low interest credit cards should still shop around and compare other cards to make sure you get the best deal available.

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Most credit card issuers base the interest rates you'll pay on your credit score. This tells them how you use your credit and if you pay your bills on time or not. If you have a card that has high interest rates you NEVER want to carry a balance. If you do get a low interest credit card and ever make a payment late, the higher default interest rate goes into affect, sometimes it's up to 25 percent, making it very hard if not impossible to pay the bill off. The difference between high interest credit cards and low interest cards could cost you hundreds and even thousands of dollars each year.

Getting your high interest credit cards paid off as soon as possible should be a top concern if you do have those. Whenever your credit scores improve try to transfer all high interest credit card balances, some transfer cards even offer a 0% introductory offers for balance transfers, making it easier to pay off your debt much faster. This is actually another subject which should be taught in school instead only being taught in schools of business finance classes.

Good & Bad Things About Prepaid Debit Cards

Today it’s almost impossible to get by without having some type of credit card. From being able to make a purchase online to filling up you car with gasoline to checking into a hotel room a credit card is helpful. So what are you supposed to when your credit is not good enough to get a regular credit card and you can’t get a secured credit card. A prepaid debit card could be exactly the thing you need. Now, what are the good and bad things of getting a prepaid debit card?

An advantage of using prepaid debit cards is that you can use them without going into debt. When you use prepaid debit cards you have to pay in advance so there’s no bill at the end. This way, prepaid debit cards are more like cash than like a traditional credit card where you get billed every month.

Another benefit of prepaid debit cards that appeals to many people with bad credit is that you do not have to worry about going into debt.

Another really huge benefit of a prepaid debit card is that you do not need to have good credit to get a card. Just pay the activation fee, deposit money and you’re ready to use your card.

Some bad points of having a prepaid debit card is you need to report if it’s lost or stolen right away since there are stricter guidelines pre prepaid debit cards as opposed to a unsecured credit card. There are  also monthly fees that you need to keep a look out for.

Also with pre paid debit cards you may not be able to rent luxury vehicles or sign up online for different types of websites. Many  large car rental agencies require a a debit card which is linked to bank account, this is so they can charge your account if you owe them.