How To Raise Your FICO Credit Scores Fast!
As many of my students and coaching clients know, one of the quickest and cheapest (as in no cost at all) ways to increase your FICO Credit Scores is to change the ratio of credit used vs credit available. This is sometimes called a “Utilization Ratio” and it this part of the scoring algorithm factors heavily on your overall credit scores.
Now, what I am about to teach you can be abused by folks who don’t have self-discipline…I must tell you that when you get an increase on your cards – DO NOT go on a shopping spree!
You are trying to obtain the highest possible FICO scores you can, and increasing your credit card limits is one of the fastest ways I know how to accomplish this. I recommend you do this twice per year – six months apart for the best results.
For this to work, you must not be late on any payments in the last six months and you must not have gone over your credit limit in the same six month period.
I will let one of my newest friends, Lane McGhee explain it to you in his own words:
There you have it. One simple phone call and Lane has added $26,000 to his credit card limits.
I would venture to say that he had an immediate bump in his FICO credit scores as well.
Now, Lane is an extremely prudent and savvy real estate investor. I know that he will put his newfound increases to a profitable use over and over again.
Folks, that is how the credit game works…find a system or process and as the old saying goes; “Lather, Rinse, and Repeat”…
Stay tuned and a BIG THANKS goes out to Lane McGhee for his credit testimonial…Thanks Lane!
Mark
