Are you constantly getting turned down for loans because of your low FICO score? How are some people constantly increasing their credit score while others are always stuck with a score in the low 600s ? People with high credit scores understand the credit borrowing system and know the ins and outs of how to get their scores higher. Now lets take a look at how they do it and how you can also do it.
never max out each of your credit cards no matter what. If you have a $4000 dollar limit never charge that full amount on your credit card even if you are always paying it back in full. There are many reasons for this but I think the main one is that many credit card companies think that if someone were fully charging their credit card limit that they are about to try to find a way out from paying it off such as declaring bankruptcy. If you happen to need that full amount the best thing to do is to just charge $2000 dollars on 2 different credit cards and then pay them both off before the end of the month. Your credit score should be fine this way. Remember even if you have a business and you are charging your expenses on your credit card that you can still take a hit on your FICO score if you fully charge your cards limit. Always spread out your payments.
One of the best credit repair tips to increase your credit score is to get a very close family member or best friend to put you on any of their credit cards so that you become an authorized user of their card. Lets say that you have an uncle that has a credit card that he has been using for 15 years and he is in super good standing with that company. If you are also on that card you could see a big time spike in your credit score. Your uncles credit card does not even have to be one that he has used recently, just one that he is in superb standing with. If your uncle is a bit hesitant about doing this , you can ease his mind by allowing him to keep the credit card in his possession. Just that fact that your name is on it means that you will be getting a lot of love on your credit score. Out of all the things you can do to increase your credit score, this tip does not require you to spend any money at all from your pocket and you do not have to do anything special to be approved for it.
Look for my future credit score increase articles to learn about more ways to increase your credit score.