Hello! I am new to the forum! I am trying to refi my car and the credit union I am going through told me I need a 680 to get better pricing on my loan. I am at a 659 right now. I have to two credit cards that I have recently paid down completely. I only have three old medical collections that are paid and my auto loan. I don't have any lates on anything. How can get my raise my score up fast?
How long ago did you pay down your 2 credit cards, and is your CU ratio now under 10%? If so, that might even be enough to bump you up to where you want to be once the new numbers are reported to the CRAs by your credit issuers.
The fastest way I know to raise your credit score 20 points is the find a family member or friend to add you as a authorized user to one of their existing credit card accounts. Once the card reports on your credit you will see the results. Here are some guidelines when choosing an authorized user account. Make sure the card has at least 2 years of PERFECT payment history. The longer the payment history the bigger the increase you will see in your score. Always add a credit cards with longer payment history then you have already established. Make sure your friend or family member can maintain a low balance (10% or less of the limit) on the credit card. You don't want to add a credit card that is maxed out, it hurt your credit score instead of help it. If you don't have any one to help you out with this there are companies out there are sell AU accounts just be careful who you deal with. Thanks! Heather with BoostMyScore.NET
I agree- adding yourself as an AU is another great way to get a quick boost. It still works quite well if you go about it the right way.
Thank you for all of your help! I have paid my balances down to zero on my two credit cards. I have asked around to all my family and friends, and no one seemed to want to help me and add my as an authorized user to one of their credit cards. What should I do now?
If no one you know will add you as an authorized user to one of their credit cards then you could look online to purchase an authorized user account. Be very careful, do a lot of research on the company that you use. See if they have a rating with the BBB. Call up the company and see if you get a live person. Maybe even ask to speak to one of their past clients as a referral. Do not purchase an authorized user account on craigslist. I hope this helps. Heather with BoostMyScore.NET
Have you seen any bump in your scores yet from paying off your 2 cards? If not, I would give it some more time. That should have a significant effect on your overall scores. Be VERY careful if you decide to take the purchasing an AU account route. I'm not saying it doesn't work anymore, but it's kind of shady since you're basically gaming the system. At least with a spouse/family member it appears to be a bit more legitimate. If credit scorers could put a stop to it they would, but they haven't really found anyone smart enough to figure out a way yet. Just my 2 cents...
