Daily Tea Sips's video: 8 Tips To Increase Your Credit Score Above 700 Credit Score Series

8 Tips To Increase Your Credit Score (Above 700 Credit Score Series) 1. Keep your credit utilization under 30 percent. If you have 3 credits cards (for example ) and the total credit limit for all three is $1500 you only want to use under 30 percent of that total. $250-$450. If you go over 30 percent you credit score will decrease. Don't make big purchases on your credit cards if you are unable to pay the full balance by the end of the billing cycle. Pay your balance in full to avoid interest. 2. If you have no credit or bad credit consider the Piggyback method. Ask a close friend or family member to add you as an authorized user on their credit card. Only ask if they have good credit. Their good payment history for that credit card will populate to your credit report. They are not obligated to give you access to their credit card. The purpose of this method is to help you build your credit. You can also get a secured credit card. Simply pay the security deposit, show a good payment history of at least 6 months and the deposit will be refunded giving you an unsecured credit card. 3. Utilize your credit. If you don't use the credit the credit card companies will assume you don't need the credit and they may close the account. You simply have to be wise in how you use your credit. Don't overextend yourself. 4. Always pay on time. Late payments have a very negative impact on your credit score (payment and derogatory makes up 35%). Make sure to pay the balance in full each month if you can. If necessary consider getting credit card insurance or private mortgage insurance. 5. Build the age of credit - 7+ years old - medium (15% of your score). Again, if you don't have a credit file or your credit is bad to consider the piggyback method or obtaining a secured credit card. Keep credit cards with zero balances open. Closing cards with zero balances affect the age of your credit and decreases your credit score. 6. Balance your credit profile - 10-20 accounts low impact (10% of your score). You want a balanced credit profile. When lenders are making credit decisions they are also looking to see if you have a variety of credit. This includes revolving, installment and open credit lines. Mortgage, car loan, student loan, 2nd mortgage, credit card (the average person has 3), cell phone/utilities 7. Credit inquiries - 0-2 inquiries low impact (10% of your score). Soft pulls like accessing your credit report online do not affect your credit score. A hard pull like getting pre-approved for a car loan through a dealership that attempts to get you approved through multiple finance companies will lower your credit score. If a creditor is making a lending decision that is considered a hard pull. 8. Dispute derogatory information either online or in writing. Credit bureaus must report accurate information and any type of collection item must prove you owe the debt. Documentation beats conversation. They must provide proof that you owe the debt or it must be removed from your credit file. I used the online dispute forms for Equifax, Experian, and Transunion and my credit score jumped 65 points in 48 hours. I was disputing multiple mailing addresses and duplicate account. Very simple. If you are disputing late pays, bankruptcies, collections, etc. I would suggest mailing your dispute letter using the dispute letter in video 4 of the Above 700 Credit Series. You will need to be persistent. One letter may not get the desired result. You made need to send up to 12 letters. This is one of the reasons some people consider using a credit restoration service. This process can be very tedious and time-consuming. Above 700 Credit Series - https://www.youtube.com/playlist?list=PLTxBO_hyj6IqBoj7F95QnIp3qJn3FSHP7 Video 1 - How To Increase Your Credit Score Fast Video 2 - How To Increase Your Credit Score Using The Piggyback Method Video 3 - How To File A Credit Report Dispute Video 4 - How I Increased My Credit Score By 65 Points In 48 Hours Video 5 - These Three Credit Lines Can Help Or Hurt Your Credit Score Video 6 - How To Remove Hard Credit Inquiries From Your Credit Report Video 7 - How To Control Credit Card Debt Video 8 - 8 Tips To Increase Your Credit Score Video 9 - How To Obtain A Second Chance Checking Account Video 10 - Why You Should Never Pay Collection Agencies or Debt Collectors Connect with me on social media: Instagram - https://www.instagram.com/dailyteasips/ Facebook- https://www.facebook.com/dailyteasips/ Twitter - https://twitter.com/dailyteasips Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. No copyright infringement intended.