Credit Score Hack That Is Simple And Fast | Quick Tip Tuesday #1

credit score hack

There are credit score hacks that are so simple, yet very few people think to use them to increase their credit score.

This is one of them.

I highly recommend that you use this in combination with actually paying down your credit cards.

Here is how it works!

The amount of money you owe, also known as your debt ratio, makes up 30% of your credit score at the credit bureaus.

Your debt ratio is calculated by dividing your total outstanding debt by  the total amount of credit you have available to you.

If you have 4 credit cards with a $2,500 credit limit on each you have $10,000 available in credit.

If you owe a total of $4,000 across all 4 credit cards, your debt ratio is 40%.

This kills your credit score because the credit bureaus like to see your debt ratio to be under 30%.

I like to see it at 0%!

We don’t need to be paying these crooks any more interest than we have to!

You can watch me explain it in the video below:

Reducing Your Credit Ratio FAST

Most people think the only way to lower their debt ratio and
increase their credit score is to pay down the debt.

That is ONE way, but it is NOT the ONLY way.

I will say…

If you have the money to pay the debt down…


If you don’t have the cash right now and need to increase your credit score so you can lower interest rates or do whatever else a good credit score allows you to do, then try the following technique.

A Phone Call To Increase Your Credit Score

You are going to need to call all of your credit card companies and ask for an increase in your credit limit…

That’s it!

It’s that simple.

Are they all going to give you an increase? Maybe not, but you don’t know unless you ask.

It is going to depend on your situation as to whether or not they are going to increase your credit. If you are a complete credit disaster, it is not likely they are going to help you dig any deeper.

Let’s see what happens if you are able to get each company to increase your limits to $5,000 each. A doubling of your available credit may be difficult, but the worse they can say is no and they will probably wind up giving you something.

Any increase helps!

You total credit limit will now be 4 X $5,000 or $20,000 total.

If you still have $4,000 outstanding debt, your debt ratio is now 20%, and you haven’t come out of pocket a single penny!

The credit bureaus will increase your credit score within the next 30 days or so.

If you don’t succeed the first time, wait 30-60 days and try again.

You may have to increase your limits over time while paying down your debt.

This simple credit score hack can help you supercharge your credit score in a hurry and help you reduce unnecessary expenses caused by interest rates or other hidden fees.

Good luck and comment below to let us know how it goes!

Check out this video on our YouTube Channel at Simple Hack To Increase Your Credit Score | Quick Tip Tuesday #1

credit score hacks from paul charronPaul Charron

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