Looking for ways to start increasing your credit score ASAP? Thankfully, there are quite literally hundreds of different ways you can raise your score. But today, we are going to go over some steps you can complete all in less than 1 hour to increase your credit score.
Increase Your Credit Limits
Credit utilization, or how much of your available credit you use, affects 30% of your total credit score. If you frequently use your credit cards, ask for a credit limit increase. Ideally, you should not use more than 30% of your total available credit per month. Call your credit card provider and increase your limit in 10 minutes on the phone.
Report Your Utilities
You have to pay your utilities no matter what, right? Call and ask your utility service provider to begin reporting positive payment history to the credit bureau(s). You can also ask reliable friends and family members to add you to their utility accounts. Not all utilities will report positive payments, but you can find out in 10 minutes.
Get a Small Loan
Borrowing money and repaying it in full is one of the best ways to build credit. You can borrow as little as $100 and repay it over a period of a year. The positive payments will be reported to the credit bureaus and your score will increase accordingly. You can find personal loans for building credit here. This can take as little as 5 minutes on this online form.
Report Your Rent Payments
Like utility providers, most property managers will not report positive payment history on rent. However, there are services out there that will process your rent for you and report the positive payments to the bureaus on your behalf. There is a fee of usually 1-5%, but the extra expense is worth the benefits of good credit.
All in all, it’s easier than you may think to increase your credit score. By just taking 1 hour out of your day to follow the steps above, you will be well on your way to a healthy credit score.
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