5 Credit Hacks That Will Change Your Life – Credit Repair Services – Top Rated

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One of the most important things to know about credit repair is that no matter how daunting it may seem, it is absolutely possible – and it is actually a lot easier than you might think. In fact, there isn’t one, but five credit hacks that you should know that not only give your scores a boost …

… you will change your life in the process.

Hold at least three major credit cards

One of the best ways to fix your credit (while maximizing your credit score) is to keep at least three major credit cards open at all times.

Well, that won’t necessarily be possible for everyone, and that’s fine. But if you can, keep it open and use it sparingly. If you make three payments on time each month, your balance will always increase faster than if you made a single payment on a card.

It’s all about this loan use

Likewise, you should pay close attention to your loan utilization, which is the percentage of your total loan that you are currently using on a regular basis.

To have the greatest impact on your credit score, try to keep the total of all your balances between 25% and 30% for as long as possible.

Increase your credit limits as much as possible

This may seem a bit strange, but it actually plays right into the advice recommended above.

The higher your credit limits, the lower your actual utilization. So if you have a card with a $ 1,000 available balance and a $ 500 balance, you are using 50% of your available balance. However, if the same card could be increased to a total credit limit of $ 1,500, that $ 500 balance suddenly equates to 33% of your spending.

It’s a great way to practice credit repair without really doing a lot.

Resist these tough inquiries

If you are on your way to doing your own credit repair, you may need to try applying for a new card with a lower interest rate to ease some of the burdens. If possible, don’t do this – as applying for a new credit card always results in a “hard pull” on your balance that will affect your score in the short term.

If you’re able to find other ways to lock your bankroll for a year and don’t have any “tough moves” during that time, you’ll enjoy an almost instant boost after those 12 months are up.

Focus on these installment loans

One of the best ways to fix your credit is to repay installment loans ASAP. Installment loans are viewed as a different type of credit than traditional credit cards and can include things like car loans, student loans, and more.

If you would like more information on five credit hacks that will change your life, or just have more questions to discuss with someone in more depth, please don’t hesitate – contact us today.

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