Ways To Increase Your Credit Score Quickly

Ways To Increase Your Credit Score Quickly

When it comes to peoples credit scores the number one question everybody has is how can they increase their credit score quickly and that is understandable. For most people they don't understand that building a high credit score takes time and because of that they spend too much time worrying about what they can do to increase it.

My first piece of advice to you if you think you can increase your credit score quickly is that it is possible but there are a few things that have to fall into place for this to happen.

1. Have decent credit history

2. Make payments on time

3. Have a relationship with your creditors

If these three things describe you then these next 4 methods will help you increase your credit score almost instantly, just remember that the most important part of this entire process is that you have a decent credit history and you make your payments on time because if these don't apply to you then your creditor will most likely turn you down for a couple of these methods.

Increase your credit limit

Most people have never even though of this as a way to increase their credit score and that is a shave because this works very quick and can increase your credit score quite a bit. This is also the easiest way out of the 4 to increase your credit score.

The reason increasing your credit limits can increase your credit score is because when you increase your credit limit you also lower your debt to credit ratio and it is a known fact that lowering your debt to credit ratio is one of the ways your credit score is determined. Since nobody really knows how a credit score is determined we have to act on studies and studies show that this is one of the best ways to increase your credit score instantly.

Open another account

I know you have been told that opening another account will just decrease your credit score and that is somewhat true according to Financial Freedom Unleashed. If you open another account that only has a limit of $200-$300 then, "Yes" it will hurt your credit report. In order to get the best benefit of opening another account you want to get the highest limit as possible, I wouldn't do anything under $600.

The trick to opening another account is not to go someplace new, but to use a creditor that you already have a relationship with. For instance if you have an American Express credit card and you have been a great user then they would be the best ones to get another credit card with. The nice part about doing this is you don't have to wait too long to get the credit card amount approved because you should already have a representative assigned to you. I love this method because most lenders want to get more cards out there and this is one way to do it.

I know I told you 4 methods and that is exactly what I am going to give you. The next 2 methods are in part 2 of the Ways To Increase Your Credit Score Quickly.