Mortgage 3 Hot Tips To Boost Your Fico Score

Mortgage - 3 Hot Tips to​ Boost Your Fico Score
Building a​ good credit score is​ a​ long term process .​
As they say a​ journey of​ a​ thousand miles starts with the​ first step .​
Beware of​ quick fixes .​
There are none except for the​ quick fix of​ getting into your wallet by way of​ a​ scam and there are some out there .​
Here are three sure fire ways to​ boost your credit score.
The biggest component of​ the​ FICO score is​ the​ percentage of​ available credit you​ are using .​
The traditional way of​ course is​ to​ pay down your accounts to​ improve the​ percentage .​
The higher the​ percentage the​ lower the​ score .​
There is​ another way.
1 .​
ASK FOR CREDIT INCREASES This achieves the​ same result-decreasing the​ percentage of​ credit used .​
Just be careful not to​ use the​ new found wealth .​
That is​ like shooting yourself in​ the​ foot .​
Be careful not to​ ask for too much of​ an​ increase.
2 .​
PAY OFF YOUR BILLS Pay them off not when they are due but before they are due .​
Find the​ statement date (usually 20 or​ so days before the​ due date) and pay it​ off a​ day or​ so early .​
That brings your account balance to​ $0 thus increasing the​ percentage of​ available credit .​
If you​ pay the​ bill on​ the​ due date it​ will not have the​ same effect.
3 .​
DON'T TOSS THOSE OLD CARDS I​ found out about this one the​ hard way .​
If you​ are not using an​ old card for any reason do not throw it​ away .​
Take advantage of​ it​ and charge small amounts occasionally .​
This results in​ an​ active vs .​
and inactive status for that account .​
Active accounts are factored into the​ FICO scoring system-inactive accounts are not.
Using these three hot tips will boost your FICO score almost overnight .​
Take the​ knowledge and run with it​ and improve your score today.

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