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Can I Boost My Credit Score in 60 Days???


The most commonly asked question most credit repair professionals answer is "Is it possible to boost my credit score in 60 days?" The answer is quite complex to say the least. Why? Well that's because raising your credit is based on multiple factors and the biggest factor is usually you. Yes! Your habits, good or bad play the largest factor to whether or not you can raise your credit score substantially in a very short period of time.

Monitor spending habits:

Credit Utilization- How much credit you're currently using compared to your available credit is your credit utilization.. Keep your accounts under the 30% threshold at the maximum and under 10% to show responsible credit use. Remember, "Amounts owed" make up 30% of your entire credit score, so if your over the threshold then start paying down your credit cards immediately.

Figure out which type of credit you currently have:

Credit Mix- How many credit cards do you have? Do you have a mortgage or car loan on your credit report? Keep in mind the credit bureaus are looking for at least 2 credit cards (revolving credit) and a loan account, like a home mortgage or car loan. If you have neither one, you might want to think about a secured bank loan like Self, They offer secured loans that may help you with your credit mix. Keep in mind that having more credit cards doesn't equal a higher credit score necessarily. How you manage your credit matters more than whether or not you have 10 different credit cards. When you looking at your credit mix it is important to note that credit mix is only 10% of your total credit score.

New Credit- Be careful when applying for new credit. Running your credit will affect your credit score by at-least 10 points or more on average and stay on your credit report for 2 years. Only apply for credit when you're looking to make a large purchase like a car or home, and a credit card that has overall value to be added to your credit report.

Some people overlook how important it is to make monthly payments on time every time:

Payment History- The biggest factor for every credit score is payment history which makes up for 35% of your entire credit score. This means even 1 late payment can be detrimental to your credit score.

We all have rough times in life, but you must be in charge of your spending habits and only charge what you can afford to payback quickly. If you find yourself with 1 late payment with a creditor you may be able to have it removed by contacting them and plead with them to remove the late payment from your credit report.

If you have too many credit cards that you're not using, it might be best to downsize your wallet. Remember having a multiple credit cards doesn't make your credit go up any faster-- only great debt management can do that.

Credit history: If you have many cards and you're thinking of closing accounts then you must start with the newest accounts added. The credit bureaus look at your overall credit history to make up your score. Positive old accounts that have many years on your credit report will help raise your score faster than new positive accounts. Keep that in mind closing accounts may lower your credit score depending on the age of the account.

When looking at the overall picture of credit, you must control your spending habits while keeping your account balances below 30%. If not, your credit score will take a major hit over credit over utilization. Next, one must pay credit card balances on time and if possible completely pay off their balances to get a fast credit score boost. While attempting to raise your score don't close accounts or apply for new credit accounts unless you need new credit to help your credit mix. These are some tips to help and the faster you implement them in your daily habits you will see a significant credit score boost within 60 days.

If you have fraud, collection accounts, college debts, and other derogatory items on your credit report, we will be happy to help you. Please call 1-855-495-9212 or sign up online for a Free credit consultation.

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