Raise credit score 50 points fast

Oct 24

Raise credit score 50 points fast

You found a house you always dreamed of and you can even afford it today. The only problem is, you need to raise credit score 50 points or 100 points and fast. Otherwise someone else will get it and that absolutely can not happen. The sellers have agreed to wait. After all they couldn’t sell for 2 years. But they will only wait for 30 days. Well, may be 45 days before you raise credit score. And 50 points is the very least, according to your mortgage broker, 100 points is a sure shot. Gotta do it fast, but how? You have collections, high credit card balances, few old late payments or whatever. And remember you have to send your improved credit scores to the seller’s attorney. We are going to give you few pointers on how to raise credit score fast. And there is very little you can accomplish quickly disputing late payments, so we put those aside for now.

Collection accounts
Debt collection accounts, no matter how small or old, give very negative impact on your credit score. Removing them from credit report will improve credit score fast. Contact collection agencies and offer to pay off if they remove collections from your credit report. Known as Pay for Delete, (you pay, they delete), this procedure can raise credit score 50 points at least. Depending on other factors, like credit account types you have, how old collection accounts are and for how much, you can even see an over 100 point raise.

Revolving debt utilization rate
This percentage ratio between balance and credit limit can be very useful in raising your credit scores. Bringing it under 9% is one of the fastest ways to a higher score. You can accomplish it fast, combining four things,
– paying off your revolving debt down, which is quite obvious
– requesting credit line increase from the creditors
– applying for credit and/or department store cards
– carrying a very small balance ($5 to $10) on one or two credit cards

Medical collections
If you have medical collections on your credit report, getting rid of them is the sure way to raise credit score. You need to ensure that collection agency represents the doctor, dentist, hospital you owe money to, called original creditor. Then for fast results, pay your debt to the original creditor in full, asking in return to remove their own derogatory records and notify collection agencies. But you must follow up immediately with collectors yourself upon receiving satisfaction of debt letter from original creditors.

Will you be able to raise credit score 50 points following these steps. Almost definitely. In 30 days? May be, but please do not wait till you find that house you always wanted, only to see it gone because you are not qualified. Also remember that things like debt validation and credit dispute works, but often take longer.

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