8 Easy Ways To Improve Your Credit Score (Instantly Boost Your Credit Score Today)

Let's discuss 8 easy ways to improve your credit score so you can instantly boost your credit score today. These simple strategies will boost your credit score towards an 850 asap. ✅ Subscribe To My Channel For More Great Tips ✅ http://www.youtube.com/shaunsurgener?... ✅ Links✅ 📈Free Stocks With RobinHood 🤝 https://join.robinhood.com/shauns824 TIME STAMPS 00:00 Intro 00:23 Credit Score 101 1:45 #1 Setup Automated Payments 2:04 #2 Reduce Credit Utilization 2:44 #3 Be Authorized Credit Card User 3:05 #4 Pay Off High Card Balance First 3:41 #5 Fix Credit Report Errors 4:22 #6 Request Credit Limit Increase 5:31 #7 Use "Dormant" Credit Cards 6:04 #8 Sign Up For Credit Boost Service ✅ VIDS ✅ Up To 6% High Yield Savings Accounts You Must Have (3 Best Savings Account)    • High Yield Savings Accounts You Must Have ...   How I Saved 100k In 4 Years Without A Job (LOW INCOME)    • How I Saved 100k in 4 Years Without A Job ...   5 Hacks to Save Money On Low Income (I Saved 9K With 19K Income)    • 5 Hacks To Save Money On A Low Income | Ho...   I Lived On $5 A Day Food Budget For One Year In Los Angeles (How To Live On $5 A Day)    • I Lived On $5 A Day Food Budget For One Ye...   How Much You Should Spend By EACH AGE | Retire Fast 2020    • How Much Money You Should Spend On Everyth...   How Much You Should You Save By EVERY AGE    • How Much Money You Should Save By Each Age...   Credit score is a number that tells the lender how likely you are to pay them back. The higher your score the less interest you’ll pay and the more financial product you’ll gain access to. There are many different types of credit scores out there so lets discuss the most common and widely used one which is your FICO score. This score ranges from 300 up to 850. Anything over 720 or 740 usually will give you the best terms possible when it comes to interest rates, loans, approval for loans etc. 🔹 HOW CREDIT SCORE IS BROKEN DOWN 🔹 1. Payment history - 35% 2. Credit Utilization - 30% 3. Credit Age - 15%. 4. Account Mix - 10%. 5. Credit Inquiry- 10% ✅ 8 WAYS TO IMPROVE YOUR CREDIT SCORE ✅ ONE. SETUP AUTOMATED PAYMENTS By putting all your bills on automated payments you are much more likely to pay on time and avoid being reported as a late payment TWO. REDUCE CREDIT UTILIZATION You should aim for less than 30% and ideally less than 10%. The lower the utilization rate the easier it is to obtain a 850 credit score. THREE. BE AN AUTHORIZED USER ON A CREDIT CARD A great way of increasing your credit is by getting your name as an authorized user from a family member that has high credit. Be sure the continue with on time payments and keeping utilization low FOUR. PAY OFF CREDIT CARDS WITH HIGHEST BALANCE FIRST If you have multiple cards with a balance, focus on the highest card balance to reduce your credit utilization ratio. Paying down debt cal also improve your debt to income ratio which doesn’t help your credit but it’s used by many lenders FIVE. FIX CREDIT REPORT ERRORS According to a recent study approximately 34% of Americans found at least one error on their credit report. Reviewing your credit report is free and only takes a few minutes. You can request free credit reports from Equifax, Experian and Transunion. SIX. REQUEST CREDIT LIMIT INCREASE Periodically you should request an increase to your credit limit. By increasing the limit you are lowering your utilization. A few things to keep in mind. First, don’t request an increase on your limit with a new card. Second, avoid a hard inquiry on limit increase. SEVEN. USE "DORMANT" CREDIT CARDS Instead of closing your first credit card, make small occasional purchases to keep it active. This makes it less likely for the bank to reduce your credit limit or close the card. Banks look at each revolving credit accounts credit utilization ratio as well as your overall credit utilization ratio. Closing accounts or lowering your limit will negatively impact your credit score. EIGHT. SIGN UP FOR CREDIT BOOST SERVICE Free credit boost services like Experian Boost report your monthly bill payments like utilities and your cell phone plan to credit bureaus. You can receive credit by linking your bank account. ❎ I am not a CPA, attorney, insurance, or financial advisor and the information in these videos are simply for entertainment purposes only and are not be considered as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Shaun MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Shaun's videos. If you need any advice regarding any of the topics mentioned in the videos, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. or financial advisor. For general questions or inquiries please instagram DM @shaunsurgener link above. For program questions or business/collab inquiries: 📧 email: [email protected]