Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option

Have Questions? Call 949.973.0141

Tips to Increase Your Credit Score Immediately

Have you recently gone to make a large purchase and found out your credit score isn’t what you thought it was? Or you may be avoiding having your credit run in the first place, worried it is not as healthy as you would like it to be. Your credit score is a rating of how well you’ve managed money when it has been lent to you. The better your credit score, the lower the risk to the bank. The lower the risk, the cheaper it is to borrow money.

how to increase your credit score

We have a few tips to give your credit a quick boost.

Do you have credit cards? Do they have balances that roll over every month?

Tip #1- Check your ratios.

You want to make sure your monthly balance on each card is less than 30% of your cards maximum limit. If your balances are too high you will need to pay them down. No cash on hand? That leads us to our next suggestion.

 Tip #2- Call your credit card companies and ask them to raise your credit limit.

If you are able to raise your limit, this will lower your balance to limit ratio and increase your credit score.

Tip #3- Time your payment.

Creditors report your balances to the credit bureaus each month. Call all of your creditors and find out which day they report to the bureaus. The trick is to time your payment to be made just before they report. This way your balance and ratios are at their lowest point. This can also give your credit score a lift.

Check out out short video explaining these tips- click here! 

If you have any questions about credit scores or debt ratios just give us a call and we will be happy to answer them!

Contact us today!

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