Category : Credit Repair
Simple Tip To Raise Your Score
Have you noticed if your score hasn’t changed on one of your accounts even though you pay every month on time? The reason this happens sometimes is because of the date you make your payment. You can actually get your score to go up some by making sure that you pay your card account just before the creditor reports to the Credit Reporting Agencies.
So let me explain; if you’re paying your card off every month, find out when it’s reporting and pay it on a time to make sure it’s reporting correctly. So what I mean by that is make sure that when you use your card, you understand your reporting date; the time that it starts and when it ends. They usually report on your statement closing date. You should probably call customer service and ask when it reports to be on the safe side. So when it ends you want to make sure that you pay your bill right before that.
This may depend on the bureau. Experian, for example, claims that “your credit report shows the balance on your credit card at the moment it is reported by your lender” (emphasis ours). But different bureaus may update at different speeds and frequencies.
Here’s a tip and how to use it to your advantage to get your score to either go up or to be more stable. You want to make sure that you leave at least two percent to ten percent of your balance on the account. I wouldn’t go over ten percent. Usually when you go over ten percent you start to see your scores drop down.
This shows that you utilize your credit correctly.
It shows that you’re a good borrower and it’s gonna help you to raise that score up.
Try it out and see. Get a Free Credit Analysis – 719-454-FREE