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How to Raise Your Credit Score Quickly – Credit Law Center

So you want to buy a house, but your credit score is 675 instead of 720 which will get you the best rate on a home loan. If you want to raise your credit score quickly, there are some steps you can take that can guarantee an exceptional home loan or any other credit line for that matter.

The Blueprint to a High Credit Score.

The blueprint for getting a great score is to pay your bills on time, keep account balances low, and take out new credit only when you need it. Those who follow this blueprint faithfully have very high credit scores. It usually means you are cautious and conservative about credit. Credit scores are not something you want to take lightly.

Sounds easy enough right? Great advice, but let’s face it following these basic principals takes time. What if you are house hunting and need a few extra points to bump you over the line to exceptional rates?

How to Raise Your Credit Score Quickly When You Need a Few Extra Points
The first place to start is with your credit report. Make sure to check it over and find out what your credit score is right now. Review your credit report to make sure all the information is reporting accurate. You will want to concentrate on correcting any errors by following the dispute process. Look for errors such as accounts that are not yours, late payments that you paid on time, debts you paid off that are showing as outstanding, or old debt that shouldn’t be reported any longer. Negative items are supposed to be deleted after seven years, except for bankruptcies, which can stay as long as ten years.

After repairing any errors, the quickest route to a better score is paying down balances on credit cards. There’s no silver bullet, but over a 60 day period, it is possible to raise increase your score by twenty points, by paying down your credit lines.

 

Things You Should Not Do To Raise Credit Score

One thing you should not do if you are just trying to boost your score is close unused accounts. If someone tells you to close unused accounts to raise your score quickly, he or she is pulling your leg. Actually, it harms your credit score.

Closing unused accounts without paying down your debt changes your utilization ratio, which is the amount of your total debt divided by your total available credit. You appear closer to maxing out your accounts. That is why your score can drop. It does not mean people should not close them, but don’t close them to improve your score.

 

Finance Friendly Apps│Tracking Spending Efficiently

Finance and User Friendly Apps

If you do not watch a ton of television consider yourself lucky. Most commercials now are all about new apps and cell phones coming out. I am so far behind in I-Phones, I may as well just get a new kind of cell phone all together.

With everything switching over to more user friendly and faster speeds, long gone are the days of having to balance your check book or make a spread sheet to track your finances. Those math teachers that used to tell us we wouldn’t always have a calculator all the time never saw any of these apps coming, that’s for sure!

An Oldie but Goodie

The trusted app, Mint allows you to track spending and finances pretty efficiently. The plus side to this app, is you are able to sync your bank account, bills and most credit cards. This also allows you to quickly pay bills from one spot collectively.

There are many other apps that suggest they do the same thing, however Mint seems to do everything one might need in order to feel safe and secure about the syncing of accounts and monitoring spending.

Credit Monitoring

There are several credit monitoring apps out there now however, we have found that Identity IQ is the best one when looking at all three credit bureau reports. Keep in mind, there are over 56 different versions of FICO and while you may have heard advertised “get your FICO score” with such and such app, it is not your true FICO score. You are looking at consumer scores online and the only reliable source you can get for the FICO score that matters when you are hoping to buy a home, is one that a bank or lender will pull for you.

Whether you are hoping to check your credit score once, or monitor it month to month, Identity IQ has many other features that are great for users like identity theft protection

 

The Cons on “Over Consuming”

While there are many reasons why the customer experience and the instant gratification with online shopping seems great, there are a few cons to the way we are making these transactions. While shopping in a store, there are several emotions that play into the purchase or “put back” of an item. Does this seem practical? Do I need it? What is my budget like?

You may feel you are getting great deals or that “time is money” but you may be overspending when it comes down to it. The same way that these businesses have marketed to you to show you that their way is better, are the same tactics they use to market more products and a need for more “stuff” that they have.

 

free credit repair consultation

You may find that you are spending more money due to:

  • High credit card balances (trying to make more payments to pay them off)
  • Cost of shipping products
  • New Products daily in your email/phone that you buy because you “want” them

There is an overwhelming amount of consumers in debt. The fact is, we sometimes we consume to many products and services without even recognizing it. Have you been there before?

Your Finances

If you are finding that you are falling behind on payments, have credit cards climbing in debt and have collection companies calling you daily, you may be in need of help. Credit Law Center is a law firm that specializes in credit repair. There are credit advisors ready to help you cut back and buckle down on your finances again. Whether you are thinking about filing for bankruptcy or are struggling to figure out the best option to pay a creditor back, they want speak with you so you can get back on track. Whether you want to talk via text, email or by phone, they can tailor to your needs.

The first step towards getting somewhere is to decide you’re not going to stay where you are. Take the next step to better credit and a better life.