You can have a high credit score for free. And you can get this done very quickly. Here’s how:
1. Find out where you stand.
In order to repair your credit, you first have to pinpoint where the problems are. The best way to get that detail is to get a credit report. The good news is that you can get a free credit score with no credit card charges or trials.
2. Clean it up for free.
Nobody can get rid of negative data on your credit report if the data is correct. Nobody.
But you can fix credit report mistakes. Write to the collection agencies and demand proof that the accounts and charges are yours. 90% of the time they won’t have any proof. If that’s the case, you can then demand that they delete the negative claims from your credit report.
3. Open new accounts for free.
Open new accounts with high credit limits but keep your balances low. Use less than 30% of the limit and pay those balances off every month no matter what. Your credit score will improve dramatically and very quickly. Everyone loves you when you pay off your bills fast.
4. Don’t pay anyone to add accounts with good credit.
There are companies that can add accounts to your credit file, but they charge an arm and a leg to do it. If you have seasoned accounts, you can add them yourself for free.
You can do all these steps yourself for free and get them done within a month. Pretty…pretty…good. What have you done to dramatically improve your credit score for free?
Want a Free e-Course and Report on how to invest like a genius?
Just subscribe to Wealth Pilgrim and they are yours for free. Don't waste another day being confused about how investments work or how investment advisors work or how investment advisors work. Take back control of your financial life once and for all - for free!
Click Here to Sign Up For Our Free Newsletter!
Neal Frankle is a Certified Financial Planner™ with over 25 years experience. Subscribe today and tap into this wonderful, free resource!
{ 2 comments… read them below or add one }
When you open new accounts, is it important to then use those accounts? By new accounts are you referring to new credit cards?
Currently I use all of the credit cards I have, some very seldomly, but they are all assigned a purpose. Should I open new accounts for cards and then proceed to destroy the card? Or, is it important to put the card to use, even if just for a short while?
I think it depends on your objective. If you want to build a higher credit score, have lots of accounts and pay them off in full every month. If you are happy w/your score, have fewer cards and pay them off every month. I don’t recommend opening credit card accounts and then destroying the card. I think this would be a negative on credit reporting because it is an “inquiry” and lots of inquiries are a negative.