10 Jan 2017   /   0 comments

How to Increase Your Credit Score Quickly?

Paul

If you are trying to get ahead in personal financial planning, you may be wondering how to increase your credit score quickly. It is widely acknowledged that over 56% of people in the United States have a subprime credit score. And it can be attested to by nearly anyone who has had a less-than-perfect score, that good financial opportunities are few and far between for most subprime borrowers. You have most likely stumbled upon this page because your credit score is lacking and you wish to set it right. We wish to help you in that by giving you tips and strategies for increasing your credit score and improving your credit report as quickly as possible.

TFC Title Loans is not a financial planning firm but that doesn’t mean we can’t help. Even though we are a title loan lender, we have watched many customers improve their financial situation by various means. With 25 years in the lending industry, we have gained extensive experience with credit that we love to put to use by educating, equipping, and empowering our customers so that they might have a brighter financial future. We care deeply about lender transparency and consumer education which is why we have been working hard to expand our website to include multiple types of resource pages. We want to provide answers to questions not only related to title loans but also financial planning and credit reports. Additionally, we want you to know that a title loans might even be able to give you the opportunity to improve your credit report so that you can take advantage of more traditional lending opportunities in the future.

Ever since we opened our doors in 1994, we have drawn thousands of customers to obtain title loans through us over every other lender. But we wish to do more now. We want to be a resource to all those in need. We don’t simply want to lend money but, also, to get people back on their feet and stay there so they don’t need us anymore. That is the job a good lender. A lender that cares. This informational article seeks to explain how you can increase your credit as quickly as possible. If you follow a few or most of these practical tips then your credit score is sure to rise rapidly. However, if you stumbled across this page because you want to obtain a title loan, then you can go ahead and get started on an application right away by either calling us or filling out the online form!

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How to Rebuild Your Credit Score Quickly

  • Order your credit report and dispute any errors that you might find. Sometimes there is misreporting of late payments or inaccurate details of accounts that can easily be fixed by using services such as Equifax, Experian, or TransUnion. Fixing these errors could automatically increase your credit score by a quite substantial number depending on how many errors there are.
  • Make sure that the credit card limits which show on your credit report are accurate. If the credit report has not been updated to show a credit line increase for one of your credit cards, it could seem like you are maxing out your credit card each month which looks rather bad. Once you fix that then it won’t appear as if you are hitting your limit each month.
  • If you have the ability, it might be a good option to get another credit card if you won’t be tempted to use it very often. If you get another credit card but don’t change your current spending amount, then it can increase your available and unused credit which looks good on your report. It will look much better to have a $2,000 limit and be using $800 of it rather than to have a $1,000 limit and be using $800 of it.
  • You could use another credit card to transfer your balance so it is easier to pay down. You can usually find good promotions that offer 0% for the first year or so. That way you would not have as many interest charges so you can pay off the card more quickly.
  • Also, pay down the card more quickly if possible. This could greatly increase your credit score, especially if you pay down a huge balance; your score could go up overnight. Pay the credit bill two times a month if you can. Make one payment right before the statement’s closing date and then another right before the due date. This is a good strategy that makes your payment history look very good.
  • Make all those payments right on time or early. Payment history makes up a whopping 35% of your FICO credit score so if you have trouble remembering to make your payments, set up automatic payments or payment reminders if you need to.
  • Underuse your credit cards if you can. According to the credit reporting system, the “credit utilization ration” should be less than 30% so if you increase your credit limit or get another credit card, don’t also increase your spending habits. Leave the spending where it is but allow your credit limit to increase. In a similar vein, don’t cancel any credit cards when you have paid them off. Leave them open but always empty at the end of the month so that your credit utilization ratio will look better.

We truly hope that this article has been extremely helpful in strategizing how you plan to improve your credit score so your credit report can look more attractive to future lenders, renters, and/or mortgagers. However, if after reading this you are left with any questions whatsoever about how you might be able to raise your credit score quickly then give us a call. We have customer representatives standing by who would love to help you out in any way they can. Even those with bad credit can get approved! We don’t even conduct a credit check! If you have decided that you may like to get a title loan with us to improve your credit score through on-time payments, then you ought to fill out our online application today!

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