3 Ways To Improve Your FICO Score in 30 Days

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Improve Your FICO Score in 30 Days

Video Transcript:

Guys what’s going on Kenny Conwell here, and I recorded this video for all the lazy people who don’t want to read. I just want to watch a video, so really the purpose is that give you guys three ways to improve your FICO score in 30 days, that’s right yourself, so I want you guys to be able to do this and really the powerful thing About this and a lot of people, don’t want to accept it, but an assistant truth.

If you improve your credit, you will improve your life.

If you improve your credit, you will improve your life. Okay, so you know, most people have issues about their credit and don’t beat yourself up. If that’s, you, you know, I’m, going to basically walk you through in this video three quick ways: you can improve your credit so that when TransUnion, Equifax and Experian gives you their scores and they report your FICO score, they’re, going to basically be giving you an excellent score.

So here’s, step 1, keep your credit card balances below 30 %. So what this really means is most people don ‘ T know that your credit card balances make up 35 % of your overall FICO score and that’s, the biggest part of what goes on into your overall score.

So if you have a, for example, let’s just say you have a MasterCard and you have a credit limit of $ 6,000 okay and you have a balance of 2,000 on that particular credit card. And then you have another Visa card that has a $ 2,000 balance.

I’m. Excuse me $ 2,000 credit limit with a $ 40.00 balance. Well, that means you have a total credit limit of $ 8,000 in between both cards. You have about 2400 dollars that you’re using well. That means in this particular scenario, you’re at 30 % credit utilization, and that goes into effect.

How to Improve Your Credit Score Fast

So you don’t want to go past this 30 %, because when you do, it starts to really really impact your score. So keeping this usage down is something you want to do. If you’re at a place where it’s way, over 30 % put a plan in place to pay it down below 30 %.

Now the calculations to come up with this is very simple, but that’s. The first thing so, the second way you can do this increase your score easily is raise your credit limit. So if you call up your credit card companies and say look, I want to raise my credit limit.

If you’ve been with them for a while, they’ll. Do this let’s just say you’re able to get your and the reason why this happens very quickly is because, like I just said, it directly affects your credit utilization.

Tips on How to Improve Your Credit Score Rating

So if you increase your credit limit that by itself by definition, is going to increase or decrease your credit utilization, so going back to what I was just saying before, let’s just say your credit utilization is 8,000 and on that MasterCard adjust was Talking about let’s just say you’re able to get a go to increase from 6,000 to 9,000, and then you’re able to get your visa increase from 2000 or 4500 well.

That means you take your original $ 8,000 worth of credit line, plus that 5500 and increase. That means you’re, going to be at 13,500 and over our overall credit right. Let’s, assume that you keep the balance at $ 2,400.

Well, in this scenario, your usage is going to decrease from that 30 % to 17 %, because you just take that 2,400 and you divided by 13, five right and, by definition like I, was saying this is going to easily improve your credit and you can have To do anything like you just make a phone call and say that I want to increase my credit limit right and then just increase it.

So that’s, a very powerful way to increase your score and then the third powerful way is to remove negative and inaccurate information from your credit report, and this one is powerful, because a lot of people don’t realize that they There are negative items on your credit right, but there’s.

Inaccurate information on your credit and all those things are affecting your score and their Fair Credit Reporting Act is really designed to protect you, the ni, the consumer, but most people, don’t even understand this law.

The credit reporting agencies they’re in business to make money the credit these other businesses are in business to make money. So if you’re, not educated, you’re, not hip to the law. Well, that’s, your business right so learning this law and the loopholes between this law is very important for you.

How to Help Improve Your Credit Score

So there is something called section, so none of the credit reporting act and really what this allows you to do as a consumer is dispute, negative items on your credit and if they can’t verify those items with the physical copy of the letter Me of the credit item, then I have to remove it right.

They have to remove it by law. People go wrong by trying to dispute items. You know directly. I have another video where I really go into great detail about this, so it’s below this description in this particular page.

So click on that page click on the video watch it, but these are the three ways that you can significantly increase. Your score – and I encourage you to do so right – make take action and then also watch this bonus, video to learn how you can get access to the actual templates to basically get these items removed from your credit, all right, so mr.

money savvy Kenny common, we’ll check it out. I will see you soon talk to you. Peace,

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