Raise it!

How Do I Raise my Credit Score?

You have by now most probably know how to calculate credit score. To avail loan opportunities, you have to raise your credit score. There are many ways by which you can improve your credit score and be in the good books in the money lenders. Following some basics of maintaining your accounts will help you to raise credit score.
Getting a new credit card for bad credit or a secured credit card will keep your credit score to a high one. This can only be done when your accounts are under your control. Another way to raise your credit score is to avail a credit builder loan. Some credit companies offer such loans wherein the money you borrow is put in a savings account which serves as a collateral security. When you have finished paying the monthly loan amount, the money in your savings account is paid to you along with the accrued interest.


Credit card dues are one of the factors which influence to calculate credit score. It is advisable to bring down the credit limit of any credit card to 10% which will be a factor to improve your credit score. Paying the amount which exceeds the 10% limit will be a way to avail further loan. Study your credit utilization and try to bring down the amount of credit outstanding to 30% of your credit limit. The farther your balances are to your credit limit, the better is your credit score.
Removal of negative accounts which have already been paid is a way by which you can raise credit score. Send a request letter to the creditor to remove the negative accounts which have already been settled. If any of your account is due for any outstanding balance, the best way would be to pay off the balance due in exchange of the account being removed. Your money lender will calculate credit score you have taking the unpaid accounts into consideration.
You can use a credit report dispute to resolve any dispute which is more than seven years. In this way you can remove any old dispute relating to your credit account. Be a regular payer of the minimum amount payable on all accounts including those which are not on your credit report. Your credit score may be affected if there are any past dues which have been referred to collection agency. Make a validation request within 30 days from receiving intimation about your debt. This prevents the creditor to add the debt on your credit report.
To avail loan opportunities, you need to make open your money accounts to prove that you are efficient to handle mix credit accounts. Improve your spending habits as this is an important factor which the creditors notice. Your accounts will reflect the type of spending you make. To raise credit score you need to be scrupulous in handling your credit accounts. The more efficient you are, you stand to improve on your credit score and be in the good books of the creditors.

Know How To Raise Your Credit Score

To be entitled to a money credit loan, you need to have your credit score up to the required standard so that the creditors are convinced about your financial worthiness. There are many ways to raise credit score but a little bit of meticulous applications are required to achieve the same. If you know how to calculate credit score, it will be easy to follow the steps for improving your credit score.
The first step to improve your credit score is to analyze where do you stand as regards your financial status. By following these steps you will be able to achieve your purpose.

  1. It is not necessary to have a good balance to increase your credit score. You may opt for a secure credit card where the bank offers you a savings account for the same value. You must ensure that the card reports to all the three credit bureaus.
  2. If you have an installment loan then pay the installment to show that you are responsible towards meeting your liabilities. You can also pay a good amount against your existing credit card. If you do not have any installment loan, secure one and pay the installment.
  3. You will be able to raise credit score dramatically if you clear your payments against credit card. Paying off your revolving accounts will increase your credit score. Clearing your installment loans like auto loan or educational loan will also help you in your credit records. Creditors will acknowledge your financial viability if they see that there is a big gap between your credit limit and the credit amount availed. It is advisable to bring down the credit balance to 10%.
  4. There are various opinions as to which credit card should you pay off in order to raise credit score. It will be better to clear the credit card which has neared the credit limit.
  5. All your outstanding credit balance of your existing accounts are reported to credit bureaus. This information is used to calculate credit score. If you can limit your balance to below 30%, you will improve upon your credit score. If you are unable to manage your accounts by keeping track of the gap between your credit limit and outstanding balance, then set up your call alert and request your creditors to inform you as and when the balance crosses your set limit, so that you can immediately deposit some money.
  6. Remove your negative accounts which have already been paid which are a way by which you can raise credit score. Request your creditor to remove the negative accounts which have already been settled. If any of your account is due for any outstanding balance, the best way would be to pay off the balance due in exchange of the account being removed. Your money lender will calculate credit score you have taking the unpaid accounts into consideration.

These steps will help you to recover from your debts and enable you to establish a strong position for securing loan.