Increasing your credit score is a very important step you must take if you must make a change in the way your current rating looks.
The benefits to be derived from doing so will be realized when you visit the banks to apply for loan.
Nobody wants to be turned down or told: "Sorry, we cannot take a risk on you.
" Take about 2 minutes of your time to read through these three steps I have explained so that you can understand how to add more points to your current credit figure.
Lower Your Balances One remarkable way you can jerk-up your current credit figure is by reducing the amount you spend on your cards.
What this means is that you should ensure not to spend more than 20 percent of the limit you have on your card.
The lower you spend, the more points you will get.
Jerk-Up Your Card Limits Another way you can attract good points to your report if you do not want to reduce the amount you spend in comparison to your limit is by extending your limit.
A phone call to your creditor should be worth the trial.
Talk to your card provider to raise your card limit.
This proves the same keeping your expenses within 20 percent of your total limit.
Get Authorization To Use A Family Member's Card One step I consider magical, because it does not require much effort on your part, is to talk to a relative to sign you up as an authorized user of his/her credit card.
You have to be sure that this relative keeps his spending to a good minimum before you can be sure that it will have a positive effect on your own score.
Now if your situation is just that you are just starting out and don't have any credit at all, you want to take the step of getting a secure credit card or loan.
This is the best place to start if you don't have anything at all on your report or do not have any positives whatsoever.