How You Can Quick and Easily Raise Your Credit Score by 150 Points

Use this simple technique to improve your credit rating fast

 

How would you like to give your credit rating a financial upgrade? Well, now you can. I am going to share with you a simple little strategy that will increase your credit score from 150 to 200 points. But first, let me tell you the mistakes you need to avoid before you get started.

If you been watching TV and saw a commercial selling cars, furniture or rent to own equipment telling you that you can re-build your credit by coming on down and sign up for their product, don’t do it that way. That is the most expensive way to re-build your credit, not to mention being tied into a two to four year agreement.

A quick way to rebuild your credit is by signing up for two to four credit card. These credit cards are design for people who currently have bad credit. They come with a credit limit between $300 to $500. That’s all you need to put this plan into action.

You are not going to purchase any furniture, movie tickets or buy groceries with your credit cards. The purpose of these cards is to re-build your credit re-rating. Here is a list of the cards I recommend that will make this plan work.

1. Orchard Bank 2. New Millennium Bank 3. HSBC Secured MasterCard 4. Capital One

Some may require a security deposit. Request an application, complete it and mail it back to the credit card company. About a month later you should have your card. Now the easy way to do this is to go by the gas station and pump gas in your car.

Look! You were going to pump gas anyway and to do it, you needed cash. So rather than use cash now, put that money into an envelope for later. Pump whatever amount you where going to pump and pay with your credit card. When your invoice comes three to four weeks later, take the money from the envelope and pay your bill. That’s it.

Use the same method with all your cards. You will see a tremendous improvement with your credit. And since you are cleaning up your credit, use other methods to remove the negatives from your credit report.

There are a few credit cards that I do not recommend. Once your credit starts to improve, your mailbox will be filled with all kinds of pre-approved credit card offers. If you are still trying to increase your score and want to apply to these offers, here is what to look for that will damage your credit again. Take out the Terms and Conditions, look where the annual fees are mention. If you see where the credit card company is requiring a participation fee, WARNING! you will be back in debt before you can come out. Don’t sign up for these cards.

If your credit limit is $300 on one of your cards and you have a annual fee of $60 and a participation fee of $72.00, you are already in the hold $132 with a available balance of $168. Some companies take the annual fee and the participation fee up front when you activate your card.

Once your credit starts improving you will see less of the annual fee. Use the method I showed you. It’s less complicated, easily to implement and a whole lot cheaper.

Never pay a process fee for a card. All you are doing is paying someone commission for mailing you a application. You can apply yourself and save your money.

 To learn how to become debt free in 3 to 5 years, go to: Click Here!