Fast Tricks that Really Work
Some say that good credit is a journey, not a destination. While building a strong history (or rectifying a bad one) can take years, there do exist simple tricks to give your credit score a quick boost. We present The top 3 ways to improve your credit score fast -for those seeking instant gratification in a game of patience.
1. Get an Installment Loan
Your FICO score, which is the industry standard lenders use to decide your buying power, is determined by a number of factors. However, 35% of your FICO score stems from your installment payment history. Making Uniform and on-time payments is the single fastest way to build a strong credit history and score.
Getting a new car may be one of the most convenient to achieve a history of installment payments but this can also be done through a mortgage, personal loans or student loans. As long as the payments are for the same amount each month and are made on time, you will soon see more buying power and an improved credit score due to this "installment credit".
There are programs to give those with poor credit a second chance through subprime auto loans, to see if you qualify for one of these programs you can compare offers online. Buckeye Car Loan works with a network of dealers nationally that specialize in low-credit, poor-credit, and no-credit auto loans.
2. Dispute Negative Reports
If you have a poor credit score or just some undesirable claims on your report, Credit repair may be a solution. Credit repair is a service that disputes unwanted or inaccurate reports on your credit.
Although it is possible to dispute these claims yourself, the lending industry and various services such as Credit Karma, have certain loopholes and hoops that may prevent the average consumer from repairing their credit effectively. For this reason, we recommend using a professional service.
Credit repair or credit restoration is often a cheap and effective way to rapidly improve credit in order to secure lower interest rates and better financial security. Credit restoration services can also reveal inaccuracies on your credit report that may bring your score down. Most credit repair customers reach their credit goals and no longer need the service after 6-8 months. of course, experiences will differ based on your history.
3. Use Experian boost
Experian boost is a free service that examines your on-time payments for bills that normally would not be accounted for on your credit report. Experian boost works with payments for bills such as Netflix, AT&T, Verizon, Spectrum, and more. Experian then uses these bills to create positive credit reports, thus creating an instant boost to your FICO Score.
Experian boost is a 100% free service, with the added bonus of finding out your FICO score.
Does Experian Boost work?
Experian is one of the three major credit bureaus in the US and is highly reputable. Although the boost in your score may be small, it is highly recommended for anyone serious about improving their credit to exhaust all options. A 10-point boost could make the difference between a 690 and a 700 FICO score, and could potentially make you more appealing to lenders.
An auto loan is one of the fastest ways to build credit! See how you qualify by comparing loans online.